AUSTRALIA - The wholesale fund market fell 2.5% over July, the third consecutive month of falls, with total funds under management (FuM) standing at AUS$287bn (US$247bn), according to figures released by DEXX&R.
Property funds fared poorly over the year, with a 12 month return of -26.6% and a -2.6% return over July. Within this sector, healthcare property was the best performer, delivering 14.3%. Of the top five one year returns listed by DEXX&R, healthcare was the only one to deliver a positive return.
Australian equities lost just over a fifth (20.1%) in the 12 months to July and lost 6.4% over the month, while international equities funds were down 17.5% over the year and +1.2% over July.
Australian equities funds were down to $68.2bn in July from $72.9bn in June and had fallen $12.5bn over the course of the year.
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