New Zealand Fund Manager Outperforms Again
June was one of the worst months for investors and fund managers in a year of falling markets and shockingly bad
performance. Recent headlines include:
- NZX50 sunk to three-year low [Press]
- Yesterday, the U.S. stock market finished the worst first half of the year since 1970. The Dow has plunged 14.4% since
the new year, the 10th worst first half since its inception and the worst in the last 38 years. [Yahoo]
- House prices in America are falling faster than during the Great Depression [Economist]
- Gloomy first half of year for investors - market drops in Britain, Germany and France 13%, 21%, and 20% respectively;
India down 34% and China down 48%. [Economist]
- Top performing NZ Growth unit trusts all negative [FundSource]
.... not to mention all the finance company woes and the consequent losses to investors.
Some unit trusts and KiwiSaver funds have lost investors 25% for the year.
Yet, in the middle of all this carnage, Socrates Fund Management has had one of it's best months ever:
21st Century Renaissance Gold & Metals Unit Trust: month of June= 5.31%, last twelve months= 17.22%
21st Century Renaissance Performance Unit Trust: month of June= 7.96%, last twelve months= 25.97%
21st Century Renaissance Income Unit Trust: month of June= 5.85%, last twelve months= 12.82%
[all figures after tax and after all fees, as calculated by MMc]
How can a Christchurch based fund manager return over 25% in a balanced growth unit trust when other managers are
getting negative 25%, and few are even breaking 0%. There's obviously a very good reason for this, and a very good story
behind it. Yet the media is concentrating on all the problems in the economic and investment worlds and ignoring the
success stories.
If you would like to explore the strategies for successful fund management during this investment crisis time, and would
like to show readers how to make money rather than lose it, contact:
ends