The Antares Australian Equities Fund delivered a return of 0.6% (net of fees) for the month of April, underperforming its benchmark index by 0.4%.1
The Australian share market continued to perform well in April, with the S&P/ASX 200 Accumulation Index rising 1.0%. Interest rate sensitive sectors performed relatively well as bond yields rallied. This included REITs (+2.6%), utilities (+3.1%) and financials (+1.9%). Other outperforming sectors included industrials (+4.4%), technology (+3.9%) and healthcare (+3.2%). Consumer staples (-2.6%) and resources (-1.6%) lagged the market but telecoms (-9.9%) was the weakest sector as intense competition and the NBN roll out are negatively impacting earnings expectations.
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