Eriksen's Master Trust Survey

• Tweet

Tuesday, August 7th 2001, 10:05AM

Eriksen's Master Trust Survey

Results To 30 June 2001

Economic Commentary
In the US the slowing economy and Bush’s tax cuts have combined to shrink the likely Government surplus, allowing the Democrats to use their control of the Senate to limit Republican spending. Earnings forecasts are still dropping despite six rate cuts in the year to mid July which are unprecedented. Meanwhile inventories rise and sales fall.

Poor company results in the US and elsewhere are resulting in job cuts and the possibility of recession. Computer hardware and software companies have been especially affected. Oil prices have fallen but OPEC is considering further restrictions on oil supplies to keep prices around $25 per barrel. Oil prices are having a major impact by slowing global growth. The US economic machine continues to move forward but is still slowing down despite Alan Greenspan’s aggressive actions.

Another problem in the US has been the slowdown in company capital spending, following the spending boom during the late 1990’s. Consumer spending has held up remarkably well. We believe a global recession is likely over the next six to eighteen months.

New Zealand and Australia have been largely unaffected by the downturn in the Northern Hemisphere so far. We are still benefiting from the export gains produced by soft currencies. Inflation in both countries has increased. New Zealand has been affected by the higher cost of imports, food price increases and structural changes from Government policy changes.

Fund Name	Fund Size	Annual Returns (Net of Tax & Expenses)					No of
	$ million	1 Year	2 Year	3 Year	4 Year	5 Year	Employers
Growth Funds
Tower Focus NZ Shares	60.9	7.0	7.3	9.1	4.3	7.7	253
Jacques Martin Asset Growth	14.7	3.6	6.1	6.7			246
Tower ANZ Growth	1.5	0.9	4.6	3.9			250
Sovereign ESP Special Values	4.3	0.8	6.2	6.3	6.2	8.1
Tower BNZ Dynamic Growth	1.1	-1.2	4.1	4.0			250
GRT Individual Retirement Plan Growth	10.3	-3.2	3.4	5.9	6.4	7.9
WestpacTrust Dynamic	206.6	-3.3	3.4	5.0	5.4	6.3
AMP High Equity	128.8	-6.1	2.9	6.0	7.0	8.6	528
Tower Focus International Shares	21.6	-6.4	-0.4	1.0	5.9	7.8	257
All Growth Funds	452.7	-2.6	3.7	5.7	5.8	7.3
Balanced Funds
Tower Investment Linked	382.0	3.4	4.2	4.5	6.0	7.3	296
Sovereign ESP Balanced Growth	10.6	3.0	6.4	6.8	5.7	7.5
AMP ANZ Balanced	55.1	2.9	3.6	5.9	5.1	6.7	401
Tower BNZ Balanced Growth	2.4	0.9	4.2	3.5			250
Tower BT Managed Growth	18.9	0.5	6.4	6.7	5.6	7.3	250
Jacques Martin Balanced	97.0	0.5	3.9	5.5	5.5	6.7	246
AMP BT	30.6	0.1	5.3	5.8	5.0	6.5	343
Sovereign SERP Balanced	4.2
AXA NZ Managed	27.4	-0.2	4.2	5.4		6.0
GRT Individual Retirement Plan Balanced	18.4	-0.9	3.2	5.0	5.5	6.8
WestpacTrust Balanced	346.6	-1.3	3.5	4.7	5.0	5.6
AMP Balanced	371.5	-1.5	3.2	4.9	5.5	6.8	655
AXA NZ Balanced	20.7	-1.6	2.5	4.1		5.2
Planit Plans Diversified	31.5	-2.4	2.1	4.6
ASB Funds Management Balanced		-3.2	3.8	6.2	6.3	7.7
Armstrong Jones SIL Balanced	332.7	-3.3	2.5	4.6	5.6	7.4	21
AMP AJ Balanced	7.3	-3.6					133
AXA NZ Spread Managers	66.1	-4.1	4.0	5.1		5.8
Jacques Martin Growth Fund	53.8	-5.7	3.8	6.6	6.8	8.2	246
All Balanced Funds	1,963.9	-0.7	3.5	4.9	5.1	6.6
Conservative Funds
Tower Conservative	21.9	6.4	6.9	5.2			250
Jacques Martin Cash Management	4.4	5.6	4.6	3.9	4.4	4.7	246
AMP Capital Assured	39.3	5.3	5.0	5.0	5.0	5.0	210
WestpacTrust Accumulation	42.3	4.6	3.7	4.1	4.4	4.7
Tower Focus Cash	10.0	4.0	3.6	3.5	3.8	4.3	259
Tower Focus Fixed Income	15.7	4.0	3.5	4.1	4.2	5.6	257
AXA NZ Capital Protected	19.6	3.8	3.8	4.1		4.2
Sovereign ESP Conservative	2.9	3.7	3.3	3.8	4.3	4.4
AXA NZ Low Risk	19.6	2.3	4.2	5.0		5.6
GRT Individual Retirement Plan Stable	3.0	1.7	3.5	4.5	5.0	6.1
AMP Capital Stable	39.5	1.6	3.3	4.3	4.4	5.3	231
Jacques Martin Capital Stable	40.3	1.3	4.0	4.9	5.2	5.9	246
All Conservative Funds	292.2	3.6	4.1	4.5	3.9	5.1
Total Funds	2,708.8	-0.5	3.6	5.0	5.1	6.6
Cash Benchmark (Net)		4.3	4.1	3.8	4.3	4.6
CPI		3.2	2.6	1.6	1.6	1.5

 

1. The above table excludes some surveyed funds due to space limitations. Excluded funds are generally those closed to new members; or having less than $1.0 mill invested. A separate edition in Adobe Acrobat (.pdf) format contains all of the funds surveyed. The full edition can be downloaded from www.eriksens.co.nz.

1. The weighted results shown above include all funds surveyed, not just those shown above.

3. This survey has been compiled from publicly available sources and information from the respective Master Trust providers. Investment decisions or comparisons should not be based on past performances in isolation from other factors. Eriksen & Associates accepts no liability for any errors herein, or any decisions made as a consequence of the information shown.

 

© Eriksen & Associates Ltd, 2001 All rights reserved.

« New approach to trustee services

King builds an empire »

Commenting is closed

 

Printable version

Email to a friend