Property trust bull run falters

Australian shares overtook listed property trusts as the strongest asset class in August, according to Intech Financial Services. LPTs all recorded negative returns for the month. Funds specialising in Australian equities were boosted by the share market's stronger performance with Dimensional, Portfolio Partners and Constellation the top performers. Australian share funds have made positive returns for the last six months, since the lowest point was reached in February. International share funds have also recovered with several now producing positive returns over the 12-month period, Intech said. Bonds produced weak returns in August.