On the local front (7.4)

The following is a very simplistic observation of the relative performances between the major sectors in our market.

No fundamental reasons are taken into account as to why one sector may or may not outperform on a relative basis, says Mark Seymour at PSG Fund Management.

Taking a look at the mean performances for the Resources, Industrials and Financial unit trust sectors, it is clear that the place to have had one's money was Resources.

The question is "does this data say anything about performances going forward?" Nothing of great certainty, otherwise we'd all know exactly where to put our money.

Given this, however, it is observed that Resources have had a good run, and that perhaps it's the time for Industrials and Financials to do their catching up.