The second quarter of 2013 was “a tough quarter” for international equity fund managers, after a first quarter in which investors pumped about $1.2 billion of money into the sector.
The latest Morningstar fund-flow data shows that in the second quarter of 2013, investors were “happy to leave their hard-earned money invested in overseas markets”, and that “global equity flows were muted on a net basis”.
As at June 30, 2013, the amount of money invested in international equities was about 21.9 per cent of the fund management industry’s $992 billion of total assets under management (TAUM). The sector trails only Australian equities ($26.4 billion) in size.
The money invested in global equities includes that invested through specialist global equity funds, and that invested via multi-sector funds. Among the specialist managers, not all fared equally well. Morningstar found that State Street Global Advisors and Magellan Funds Management dominated the inflows, attracting between them 41 per cent of the money that flowed into the sector.
Nine global equity mangers in three fund categories are in the running to be recognised as the best in their respective sectors at the upcoming Professional Planner | Zenith fund Awards 2013.
The winners will be revealed at an awards event on October 11, at Ivy Ballroom in Sydney. More than 260 of the fund management industry’s leading players have already registered to attend, and there are limited spaces left.
The event is proudly sponsored by Thomson Reuters, and more details on how to buy tickets to attend are available through the event website –www.fundawards.com.au
International equities finalists
Global
Goldman Sachs Asset Management, Magellan Asset Management, MFS Investment Management
Alternative strategies (including long/short global, long/short regional and income overlay)
K2 Asset Management, Platinum Investment Management, PM Capital
Emerging markets and regional
Aberdeen Asset Management, Fidelity Worldwide Investments, Macquarie Investment Management
Event sponsor
