PlexCrown: Property portfolios sparkle in second quarter

With the emphasis of global investors on ‘risk-off’ strategies amid the ongoing crisis in the Eurozone, local investors in defensive investment schemes survived the onslaught and achieved superior performances during the June quarter. South African invest

Local investors in Domestic Equity Resources and Basic Industries suffered the most as they had to contend with a return of minus 5,29% even if income distributions are taken into account (see Table 2). Despite all the gloom and doom the JSE fared exceptionally well as the losses on the South African stock market were rather limited compared to world markets. A 5,9% drop in the value of the rand against the US dollar provided a solid cushion, resulting in the South African market returning 0,46% for the quarter.

Even in US dollar terms the JSE fared better than developing and other emerging markets. The JSE All Share Index fell by 5,4% during the quarter, whereas the MSCI World Index declined by 5,8% and the MSCI Emerging Market Index fell by 10%. In our local currency the JSE was hardly moved by the events in Europe.

Allan Gray, winner of the coveted 2012 Raging Bull Domestic Management Company of the Year Award, is still the leading investment manager across all asset classes in the PlexCrown Survey, which is based on risk-adjusted returns for the five-year period to the end of June 2012. The company shares the lead in Domestic Equity with Aylett, Kagiso, Foord and Marriott and is a short head behind Oasis in Domestic Fixed Interest. However, it is feeling the heat from Coronation, with Nedgroup Investments in third place (see Table 3).

In so far as FSB-approved investment schemes are concerned, Investec – winner of the 2012 Raging Bull Offshore Management Company of the Year Award – continues to lead across all asset classes. STANLIB was runner-up, with Nedgroup Investments International in third place (see Table 7).

Table 1:

Best performing rand denominated and FSB-approved foreign collective investment schemes:

Source: www.plexcrown.com

Table 2:

Worst performing rand denominated and FSB-approved foreign collective investment schemes:

Source: www.plexcrown.com

Table 3:

Domestic CIS managers rating

Source: www.plexcrown.com

Table 4:

Top domestic equity managers

Source: www.plexcrown.com

Table 5:

Top domestic fixed interest managers

Source: www.plexcrown.com

Table 6:

Top domestic asset allocators

Source: www.plexcrown.com

Table 7:

Top managers of FSB-approved foreign investment schemes

Source: www.plexcrown.com