InvestSMART Portfolio Update - November 2017
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Activity during the month
During the month we made some changes to the Diversified Property & Infrastructure Portfolio with the objective of reducing transactional costs within the portfolio while also maintaining an asset allocation that ensures we deliver returns in line with our benchmark. Read more..
Suncorp issued a new note during the month and the Hybrid Income Portfolio participated in the offer, taking up a 1.25% position in the portfolio. SUNPG are perpetual, unsecured, subordinated notes paying a margin of 3.65% over the 90 day bank bill swap rate. Distributions are expected to be fully franked and paid quarterly.
|
Ticker |
SUNPG |
|
Name |
Suncorp Capital Notes 2 |
|
Issue size |
$375m |
|
Margin |
3.65% over 90-day BBSW |
Figure 1: Suncorp Capital Notes 2 – Key Details
Source: Suncorp
Building portfolios with ETFs
We released our first quarterly ETF report during the month. ETFs are the basis of a range of InvestSMART’s Separately Managed Account portfolios and the purpose of this report is to provide our clients with an easy to digest wrap of market activity as well as a greater level of insight into how and why we’ve built our SMA portfolios the way we have.
ETFs are a low-cost, hassle-free way for investors to achieve their investment objectives. Whether your aim is to diversify your portfolio or to obtain exposure to a particular asset class or investment theme, the ability to buy ETFs directly on market, their low cost and transparency has seen the popularity of these securities amongst investors grow rapidly.
InvestSMART Core Growth Portfolio
The InvestSMART Core Growth Portfolio produced a return of 1.88% (after fees) during November.
The Vanguard Australian Property Securities Index ETF (VAP) was the best performing security for the month up 5.24%.
The estimated yield on the portfolio is currently 2.85%.
Since inception, the portfolio has returned 8.29% per annum (after fees).
|
Performance to 30 November 2017 |
1 Month |
3 Months |
6 Months |
1 Year |
2 Years |
3 Years |
SI (p.a) |
|
InvestSMART Core Growth |
1.88% |
5.55% |
4.49% |
13.26% |
8.16% |
7.65% |
8.29% |
|
Morningstar Aus Msec Growth TR AUD |
2.02% |
6.06% |
5.17% |
12.69% |
8.74% |
8.48% |
9.04% |
|
Excess to Benchmark |
-0.14% |
-0.51% |
-0.68% |
0.57% |
-0.58% |
-0.83% |
-0.75% |
|
RBA Cash Rate 3% |
0.37% |
1.13% |
2.27% |
4.59% |
4.74% |
4.92% |
4.94% |
|
Excess to Objective |
1.50% |
4.42% |
2.22% |
8.67% |
3.42% |
2.73% |
3.35% |
Figure 2: Portfolio Performance after fees
Source: InvestSMART, MorningStar, Praemium
InvestSMART Diversified Income Portfolio
The InvestSMART Diversified Income Portfolio produced a return of 1.33% (after fees) during November.
The Vanguard Australian Property Securities Index ETF (VAP) was the best performing security for the month up 5.24%.
The estimated yield on the portfolio is currently 3.26%.
Since inception, the portfolio has returned 4.88% per annum (after fees).
|
Performance to 30 November 2017 |
1 Month |
3 Months |
6 Months |
1 Year |
2 Years |
SI (p.a) |
|
InvestSMART Diversified Income |
1.33% |
3.23% |
2.98% |
7.36% |
6.21% |
4.88% |
|
Morningstar Aus Msec Moderate TR AUD |
1.15% |
3.06% |
2.76% |
7.09% |
5.57% |
5.26% |
|
Excess to Benchmark |
0.18% |
0.17% |
0.21% |
0.27% |
0.65% |
-0.39% |
|
RBA Cash Rate 1% |
0.21% |
0.63% |
1.26% |
2.53% |
2.67% |
2.83% |
|
Excess to Objective |
1.12% |
2.61% |
1.72% |
4.83% |
3.55% |
2.05% |
Figure 3: Portfolio Performance after fees
Source: InvestSMART, MorningStar, Praemium
InvestSMART Interest Income Portfolio
The InvestSMART Interest Income Portfolio produced a return of 0.41% (after fees) during November.
The iShares Core Composite Bond ETF (IAF) was the best performing security for the month, up 1.08%.
The estimated yield on the portfolio is currently 2.45%.
Since inception, the portfolio has returned 2.35% per annum (after fees).
|
Performance to 30 November 2017 |
1 Month |
3 Months |
6 Months |
1 Year |
SI (p.a) |
|
InvestSMART Interest Income |
0.41% |
0.90% |
0.72% |
2.68% |
2.35% |
|
Bloomberg AusBond Composite 0 Y TR AUD |
0.87% |
1.66% |
0.99% |
4.02% |
3.65% |
|
Excess to Benchmark |
-0.45% |
-0.75% |
-0.27% |
-1.34% |
-1.30% |
Figure 4: Portfolio Performance after fees
Source: InvestSMART, MorningStar, Praemium
InvestSMART Diversified Property & Infrastructure Portfolio
The InvestSMART Diversified Property & Infrastructure Portfolio produced a return of 3.83% (after fees) during November.
APA Group (APA) was the best performing security for the month up 9.11%
The estimated yield on the portfolio is currently 2.88%.
Since inception, the portfolio has returned 6.62% per annum (after fees).
|
Performance to 30 November 2017 |
1 Month |
3 Months |
6 Months |
1 Year |
SI (p.a) |
|
InvestSMART Diversified Property & Infrastructure Portfolio |
3.83% |
5.36% |
0.27% |
6.90% |
6.62% |
|
A Composite Index |
2.95% |
3.93% |
0.12% |
8.22% |
7.93% |
|
Excess to Benchmark |
0.88% |
1.43% |
0.16% |
-1.32% |
-1.31% |
Figure 5: Portfolio Performance after fees
Source: InvestSMART, MorningStar, Praemium
InvestSMART International Equities Portfolio
The InvestSMART International Equities Portfolio produced a return of 2.77% (after fees) during November.
The iShares Core S&P 500 ETF (IVV) was the best performing security for the month up 3.50%.
The estimated yield on the portfolio is currently 1.96%.
Since inception, the portfolio has returned 12.62% per annum (after fees).
|
Performance to 30 November 2017 |
1 Month |
3 Months |
6 Months |
1 Year |
2 Years |
3 Years |
SI (p.a) |
|
InvestSMART International Equities |
2.77% |
10.32% |
6.76% |
21.23% |
9.22% |
10.05% |
12.62% |
|
MSCI World Ex Australia NR AUD |
3.23% |
11.36% |
7.47% |
20.51% |
10.29% |
12.62% |
14.98% |
|
Excess to Benchmark |
-0.47% |
-1.03% |
-0.71% |
0.72% |
-1.07% |
-2.57% |
-2.36% |
Figure 6: Portfolio Performance after fees
Source: InvestSMART, MorningStar, Praemium
InvestSMART Hybrid Income Portfolio
The InvestSMART Hybrid Income Portfolio produced a return of 0.04% (after fees) during November.
Suncorp Capital Notes II (SUNPG) was the best performing security for the month up 1.47% while the IANG Reset Exchange Securities (IANG) was worst performing at -0.65%.
The estimated Gross Running Yield (incl. of franking) is currently 5.3% while the Yield to Maturity (incl. of franking) is 4.9%.
Since inception, the portfolio has returned 1.91% per annum (after fees).
|
Performance to 30 November 2017 |
1 Month |
3 Months |
SI (p.a) |
|
InvestSMART Hybrid Income |
0.04% |
1.54% |
1.91% |
|
RBA Cash Rate 3% |
0.37% |
1.13% |
1.89% |
|
Excess to Benchmark |
-0.34% |
0.41% |
0.02% |
Figure 7: Portfolio Performance after fees
Source: InvestSMART, MorningStar, Praemium
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