InvestSMART Performance Update: March 2024
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The InvestSMART diversified ETF portfolios returned between 7.1% and 18.6% in the 12 months to 31 March 2024. All our portfolios, whether you choose to invest in our Conservative portfolio through to our High Growth portfolio, would have provided better returns than a bank savings account and term deposits over the same period.
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Over five years the portfolios have returned on average between 2.9% and 9.3%, outperforming the majority of their peer funds as you can see from the chart below. Our Growth portfolio, for example, has returned 7.1%p.a. over five years. The average annualised return of other funds categorised as 'growth' was 4.7% over the same period.
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The InvestSMART single asset portfolios returned between 3.7% (Cash Securities) and 27.7% (International Equities) in the 12 months to 31 March 2024 and between 1.2% and 13.1% on average over five years.
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March wrap up
The first quarter of 2024 was all about growth, particularly in the US tech sector. Global share markets had their best quarter in five years, driven by AI expectations and strong corporate earnings.
Australian shares closed Q1 at record highs, despite analyst fears of a slowing economy. The Aussie tech sector was a bright spot, up an impressive 24.2% for the quarter, however, miners fell 7.9% as iron ore and lithium prices suffered under supply challenges from international competitors.
Bonds stagnated in the first quarter of the year. Although inflation has eased, it remains stickier than economists would like, which has dragged on both local and global bond performance as predicted interest rate cuts have not materialised.
Sector highs and lows
Looking at sector highs and lows serves as a useful reminder of the value of broad-based 'vanilla' ETFs and why they are our chosen investment vehicle. Predicting which sector will outperform is incredibly difficult, and staying informed about industry-specific issues can be a tall order. For example: not long ago Australian lithium miners were posting huge returns, but as mentioned above, the mining sector is down. By holding a diversified basket of shares in an ETF, InvestSMART clients benefit from strong-performing sectors, while mitigating exposure to those that are struggling.
View full portfolio performance report here.
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