December, 2020
Here are some of the fourth-quarter and full-year 2020 highlights:
Global shares rose meaningfully in the fourth quarter, finishing 2020 with healthy overall returns. Returns from this asset class have been somewhat muted for unhedged investors, however, given the stronger Australian dollar. At year-end, the U.S. market had rallied as much as 70% from the March lows.
Shares in emerging market companies outperformed developed market peers, during the fourth quarter and on a 12-month view. This sector was buoyed by renewed confidence in the outlook for global growth and low U.S. interest rates. Energy and financials were the best performing sectors in Q4 2020 recording gains of more than 20%! Nonetheless, returns from these sectors finished down on a calendar year view, materially so in the case of energy. Even accounting for the recent rally, this sector continues to appeal as an attractive investment opportunity given its compelling valuation, in our view. Among fixed income assets, interest-rate-sensitive bonds were one of the rare assets to fall in the fourth quarter. Meanwhile, riskier high-yield and emerging-markets bond categories performed the best on the back of the improved outlook for global growth.
asset_class:
asset_category:
peer_benchmark:
broad_market_index:
manager_contact_details: Array
ticker: INT0036AU
release_schedule: Quarterly
structure: Managed Fund
commentary_block: Array
factsheet_url:
https://investmentcentre.moneymanagement.com.au/factsheets/mi/ggfa/morningstar-growth-a
fund_features:
Morningstar Growth Fund is an actively managed multi-asset Fund focused on growth asset classes such as shares, property and infrastructure; with some defensive asset classes, such as cash and fixed interest.
- The Fund aims to achieve capital growth through investing in a diversified portfolio of growth and defensive asset classes, with an emphasis on growth asset classes.
- To achieve capital growth through investing in a diversified portfolio of growth and defensive asset classes, with an emphasis on growth asset classes.
- The Fund will be invested dynamically across managed funds, direct securities, exchange traded funds, foreign exchange contracts and/or derivatives