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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Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.