November, 2020
The BT Multi-Manager Australian Shares Fund returned 10.60% on a net basis in November, outperforming the S&P/ ASX 300 Accumulation Index by 0.37%. Australian equities had their highest one month return since 1988 on the back of positive news surrounding the progress of COVID-19 vaccines. Underlying manager performance was mixed. Nikko was the largest contributor to relative performance, benefitting from a strong market rotation into value and vaccine winner stocks. This style rotation consequently resulted in Platypus being the largest detractor over the period.
The manager’s portfolio has a moderate exposure to defensive stocks, which investors have shifted out of given the optimism over a potential vaccine. From a sector perspective, the overweight to, and positive stock selection in Industrials was the largest positive contributor to performance. On the other hand, the underweight to, and negative stock selection in Real Estate was the largest detractor. At a stock level, overweight to Qantas was the largest positive contributor, while the underweight to National Australia Bank Limited was the largest detractor.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/BT-Wholesale-Funds-BT-Wholesale-Multi-manager-Australian-Share-Fund-BTA0259AU-factsheet.pdfticker: BTA0259AU
release_schedule: Monthly
commentary_block: Array
factsheet_url:
asset_class: Domestic Equity
asset_category: Australia Large Blend - Broad Cap - Passive
peer_benchmark: Domestic Equity - Large Cap Passive Index
broad_market_index: ASX Index 200 Index
structure: Managed Fund
manager_contact_details: Array
fund_features:
The Fund aims to provide investors with a total investment return (before fees and taxes) that outperforms the benchmark over periods of five years or longer. The Fund invests in small capitalization shares listed, or expected to be listed, on the Australian Securities Exchange, predominantly in companies that are outside the top 100 stocks as defined by market capitalization.