Contrasting, but productive, times

By Greg Smith, Head of Retail at Devon Funds

While Australia saw some strong earnings beats, the results season in New Zealand was arguably less convincing, with more caution around the economic environment. While not everything went to script, this has largely been to the benefit of the Devon funds which currently have a tactical overweight position in Australia relative to New Zealand.

*the figures provided above are based on rolling 3-year returns (net of fees, inclusive of imputation credits but before tax) sourced from Morningstar to 31/8/2023. ‘Peer Group’ is based on the average performance of a grouping provided by Morningstar of New Zealand-based Fund Managers, Australasia Region. Past performance does not represent future performance. Returns are based on a PIR rate of 0%.