The Antares High Growth Shares Fund delivered a return of 0.6% (net of fees) for the month of June, outperforming its benchmark by 0.4%.
The Australian share market was virtually flat in June, with the S&P/ASX 200 Accumulation Index rising just 0.2%. Strength in health care (+6.1%), banks (+1.5%) and technology (+1.4%) was largely offset by weakness in energy (-6.9%) as the oil price fell in response to expectations of increased supply. REITs (-4.8%) and utilities (-2.7%) were also amongst the worst underperformers, negatively impacted by the rise in domestic 10-year bond yields. The iron ore price rose 14% as China’s growth data improved. This supported large resource stocks, including BHP Billiton (BHP) and Rio Tinto (RIO), that rallied strongly late in the month.
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