Equity funds outperform booming market
Austock Asset Management returned 32.9 per cent last year to top the Australian funds in investment returns for 2005. On average, the 89 funds surveyed by Mercer Investment Consulting outperformed the S&P/ASX300 (which climbed 22.5 per cent) by 1.2 per cent. Investors Mutual was the worst performing fund with 15.5 per cent. The best sectors were energy and materials, returning 60.5 per cent and 42.6 per cent respectively while the worst performers were IT and consumer discretionary, down 9.8 and 4.9 per cent.