June : no where to hide for long only managers.
Performance of main US indexes :
- S&P 500 : - 8.4 %
- Nasdaq : - 8.7 %
Performance by sector in S&P 500 :
- best : consumer staples (- 3.8 %) and healthcare (- 4.1 %),
- tech : - 8.9 %
- worse : energy (- 17.5 %), basic materials (- 14.7 %), financial services (- 10.8 %).
Only element which favoured Australian international equities fund managers : USD which increased by 4.6 % vs AUD.
So overall, it helps them offset more than half of the decrease of S&P 500.
As a result, S&P 500 in AUD did much better than ASX all ord which was done by 9.5 % in June.
Platinum should be the fund manager which benefits the most from such market conditions :
- gaining on its short on tech,
- benefiting from USD increase,
- and apparently improvement also for Asian markets.
Platinum main fund performance (in AUD) was - 2.1 % at 29/6/22, for the month of June.
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