Active managers beat market by a whisker

Australian share fund managers have beaten the benchmark S&P/ASX300 Index by only small amount over the 12 months to July 31. The median manager returned 18.7 per cent – due largely to the stockmarket rally – while the index gained 18.2 per cent over the same period, according to Mercer Consulting. Only 17 managers of the 65 surveyed outperformed the index by more than 2 per cent before fees and tax. PM Capital took the top spot, returning 36.3 per cent followed by Dimensional Fund Advisors. Jardine Fleming Capital Partners ranked 13th, returning 21.3 per cent, while Perennial Value Management ranked 29th at 18.9 per cent. The worst performers were WHTM Asset Management which returned 10.2 per cent and Credit Suisse Asset Management at 11.5 per cent.

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