September, 2023
The Russell Investments Diversified 50 Fund underperformed the benchmark in the September quarter.
Within our global equity portfolio, the Russell Investments Multi-Asset Factor Exposure Fund recorded negative absolute and excess returns for the quarter, driven in part by its exposure to China and currency hedging positions. In contrast, the Russell Investments Tax Effective Global Shares Fund outperformed its benchmark over the period, benefiting from stock selection in Japan and the UK. In terms of domestic equities, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian
Opportunities Fund recorded negative absolute and excess returns for the quarter; the two funds impacted by a material overweight to the poor-performing healthcare space. The Russell Investments Australian Factor Exposure Fund outperformed its benchmark; though absolute returns were negative. Within the Fund’s traditional fixed income portfolio, the Russell Investments Australian Bond Fund (RABF) performed in line with its benchmark over the period. RABF benefited from a strategic overweight to credit, however this was offset by a slightly long duration exposure. The Russell Investments International Bond Fund – $A Hedged delivered negative absolute and excess returns in the third quarter. In terms of our extended fixed income exposure, Metrics Credit outperformed traditional bonds over the period. The Russell Investments Australian Floating Rate Fund also performed well. Elsewhere in the Fund, our exposures to global and Australian listed property weighed on performance, while a weaker Australian dollar (relative to the US dollar) boosted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-7-1.pdfAugust, 2023
The Russell Investments Diversified 50 Fund narrowly underperformed the benchmark in August. The Fund’s equal weighting to growth assets like Australian and global equities, and income assets like Australian and global bonds drives returns.
The Fund’s equity portfolio was mixed over the period. Within our global equity portfolio, the Russell Investments Tax Effective Global Shares Fund (TEGS) recorded positive absolute returns for the month; though excess returns were in line with its benchmark. TEGS benefited in part from stock selection in the UK; notably a short position in healthcare firm AstraZeneca. In contrast, both the Russell Investments Multi-Asset Factor Exposure Fund and the Russell Investments Global Opportunities Fund – $A Hedged delivered negative absolute and excess returns for the month. In terms of domestic equities, the Russell Investments Australian Shares Core Fund, the Russell Investments Australian Opportunities Fund and the Russell Investments Australian Factor Exposure Fund all recorded negative absolute returns in August. Within the Fund’s traditional fixed income portfolio, the Russell Investments International Bond Fund – $A Hedged delivered both negative absolute and excess returns for the month, while the Russell Investments Australian Bond Fund outperformed its benchmark; benefiting in part from an overweight to credit. In terms of our extended fixed income exposure, Metrics Credit outperformed government bonds, with Australian loans continuing to generate income-like returns. Global floating rate credit and the Russell Investments Australian Floating Rate Fund also performed well in August. The Fund also benefited from its exposure to Australian listed property, while a weaker Australian dollar (relative to the US dollar) boosted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-5-1.pdfJuly, 2023
The Russell Investments Diversified 50 Fund outperformed the benchmark in July. The Fund’s equal weighting to growth assets like Australian and global equities, and income assets like Australian and global bonds drives returns.
The Fund’s equity portfolio performed well over the period. In terms of global equities, the Russell Investments Tax Effective Global Shares Fund (TEGS) and the Russell Investments MultiAsset Factor Exposure Fund (MAFEF) delivered positive absolute and excess returns for the month. TEGS’ outperformance was driven in part by stock selection in the US, including overweights to Meta Platforms (formerly Facebook) and Uber Technologies, while MAFEF benefited from its value and growth factor exposures. Within our domestic equities portfolio, the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund also recorded positive absolute and benchmark-relative returns in July. Both funds benefited from stock selection within the materials space, including an underweight to iron ore major Fortescue Metals Group. The Russell Investments Australian Factor Exposure Fund performed in line with its benchmark; though absolute returns were positive. Within the Fund’s traditional fixed income portfolio, the Russell Investments International Bond Fund – $A Hedged and the Russell Investments Australian Bond Fund delivered positive absolute and excess returns for the month. Both funds benefited from a long-held overweight to credit. In terms of our extended fixed income exposure, Metrics Credit outperformed government bonds over the period, with Australian loans continuing to generate income-like returns. Global floating rate credit and the Russell Investments Australian Floating Rate Fund also performed well. Meanwhile, a weaker Australian dollar (relative to the US dollar) boosted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-2-2.pdfJune, 2023
The Russell Investments Diversified 50 Fund underperformed the benchmark in the June quarter. However, the Fund did deliver positive absolute returns over the period.
The Fund’s equity portfolio was mixed. Within our global equity portfolio, both the Russell Investments Tax Effective Global Shares Fund (TEGS) and the Russell Investments Multi-Asset Factor Exposure Fund (MAFEF) recorded strong absolute returns for the quarter but underperformed their respective benchmarks. TEGS was impacted by stock selection amongst large US growth names, while MAFEF’s underperformance was driven by its value factor exposure. In terms of domestic equities, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund (RAOF) delivered positive absolute and excess returns for the quarter. The Core Fund benefited from stock selection within the strong-performing information technology space, while RAOF’s outperformance was driven in part by stock selection amongst materials. The Russell Investments Australian Factor Exposure Fund narrowly outperformed its benchmark, benefiting largely from its growth factor exposure. Within the Fund’s traditional fixed income portfolio, the Russell Investments Australian Bond Fund recorded negative absolute returns for the quarter; though it did outperform its benchmark, benefiting from an overweight to credit. The Russell Investments International Bond Fund – $A Hedged delivered negative absolute and benchmark-relative performance over the period. In terms of our extended fixed income exposure, Metrics Credit performed well, with Australian loans continuing to generate income-like returns. The Russell Investments Australian Floating Rate Fund and our exposure to global high-yield debt also added value. More broadly, the Fund benefited from its exposure to global and Australian listed property.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-4-1.pdfMay, 2023
The Russell Investments Diversified 50 Fund narrowly outperformed the benchmark in May. The Fund’s equal weighting to growth assets like Australian and global equities, and income assets like Australian and global bonds drives returns.
The Fund’s equity portfolio was mixed over the period. In terms of global equities, the Russell Investments Tax Effective Global Shares Fund delivered positive absolute returns for the month but underperformed its benchmark. Much of the Fund’s underperformance was driven by stock selection in the US; notably underweights to large cap names like NVIDIA Corp., Apple and Tesla. In contrast, the Russell Investments Multi-Asset Factor Exposure Fund recorded both negative absolute and excess returns in May. Within our Australian equities portfolio, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund (RAOF) delivered negative absolute returns for the month but outperformed their benchmarks. The Core Fund’s outperformance was driven in part by an overweight to the information technology sector, while RAOF benefited from stock selection within the energy space. Within the Fund’s traditional fixed income portfolio, the Russell Investments International Bond Fund – $A Hedged recorded both negative absolute and excess returns in May. The Russell Investments Australian Bond Fund also delivered negative absolute returns for the month, though it did perform in line with its benchmark; the Fund benefiting in part from an overweight to credit. In terms of our extended fixed income exposure, Metrics Credit performed well, with Australian loans continuing to generate income-like returns. The Russell Investments Australian Floating Rate Fund also outperformed. Meanwhile, a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-2-1.pdfApril, 2023
The Russell Investments Diversified 50 Fund narrowly outperformed the benchmark in April. The Fund’s equal weighting to growth assets like Australian and global equities, and income assets like Australian and global bonds drives returns.
Within the Fund’s global equity portfolio, the Russell Investments Tax Effective Global Shares Fund delivered positive absolute and excess returns for the month, benefiting from strong stock selection in the UK. This included ex-benchmark holdings in stockbroker Numis Corp. and price comparison website Moneysupermarket.com. In contrast, the Russell Investments Multi-Asset Factor Exposure Fund was flat for the month.
In terms of Australian equities, the Russell Investments Australian Shares Core Fund was also flat in April, while the Russell Investments Australian Opportunities Fund (RAOF) recorded positive absolute and benchmark-relative returns over the period. RAOF’s outperformance was driven by strong stock selection within the materials sector; notably underweights to miners BHP Group and Fortescue Metals Group. Within the Fund’s traditional fixed income portfolio, the Russell Investments Australian Bond Fund delivered positive absolute and excess returns for the month, benefiting in part from its long-held overweight to credit. The Russell Investments International Bond Fund – $A Hedged was flat against its benchmark in April; though it did record positive absolute returns for the month. In terms of our extended fixed income exposure, Metrics Credit performed well over the period, with Australian loans continuing to generate income-like returns. The Russell Investments Australian Floating Rate Fund also outperformed. Elsewhere in the Fund, our exposures to global and Australian listed property added value in April, while a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
File:February, 2023
The Russell Investments Diversified 50 Fund narrowly outperformed the benchmark in February. However, the Fund did deliver negative absolute returns for the month. The Fund’s equal weighting to growth assets like Australian and global equities, and income assets like Australian and global bonds drives returns.
The Fund’s equity portfolio was mixed over the period. Within our Australian equity portfolio, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund (RAOF) delivered positive excess returns for the month but underperformed their benchmarks. The Core Fund benefited from stock selection amongst financials, while RAOF’s outperformance was driven by stock selection within the materials space. In terms of global equities, the Russell Investments Tax Effective Global Shares Fund (TEGS) underperformed its benchmark in February; though it did record positive absolute returns for the month.
TEGS was impacted by stock selection in the US; notably underweights to large growth names like Apple and Tesla. The Russell Investments Multi-Asset Factor Exposure Fund also underperformed over the period. Within our traditional fixed income portfolio, the Russell Investments International Bond Fund – $A Hedged delivered negative absolute returns in February but narrowly outperformed its benchmark. This outperformance was driven largely by active currency positioning, including a long US dollar position.
The Russell Investments Australian Bond Fund was flat for the month. In terms of our extended fixed income exposure, both Metrics Credit and the Russell Investments Australian Floating Rate Fund performed well over the period; the latter continuing to benefit from running yield in excess of the benchmark. Meanwhile, a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-1-1.pdfJanuary, 2023
The Russell Investments Diversified 50 Fund outperformed the benchmark in January. The Fund’s equal weighting to growth assets like Australian and global equities, and income assets like Australian and global bonds drives returns. The Fund’s global equity portfolio contributed positively to performance, with the Russell Investments Tax Effective Global Shares Fund and the Russell Investments Global Opportunities Fund – $A Hedged recording strong absolute and excess returns for the month. Both funds benefited from strong stock selection in the US and emerging markets.
The Russell Investments Multi-Asset Factor Exposure Fund also performed well in January. In terms of domestic equities, the Russell Investments Australian Shares Core Fund outperformed its benchmark, benefiting from strong stock selection amongst property trusts. In contrast, the Russell Investments Australian Opportunities Fund (RAOF) underperformed its benchmark in January; though it did record positive absolute returns for the month. RAOF’s underperformance was driven in part by poor stock selection within the materials space. The Russell Investments Australian Factor Exposure Fund performed in line with its benchmark over the period. Within our traditional fixed income portfolio, both the Russell Investments International Bond Fund – $A Hedged and the Russell Investments Australian Bond Fund outperformed their respective benchmarks in January. In terms of our extended fixed income exposure, global high-yield debt and the Russell Investments Australian Floating Rate Fund delivered positive absolute returns over the period. Metrics Credit also performed well, with Australian loans continuing to generate income-like returns. Our exposures to global and Australian listed property added further value in January, while a stronger Australian dollar impacted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-9.pdfDecember, 2022
The Russell Investments Diversified 50 Fund narrowly underperformed the benchmark in the December quarter. However, the Fund did deliver positive absolute returns for the period.
The Fund’s equity portfolio was mixed over the period. In terms of global equities, the Russell Investments Multi-Asset Factor Exposure Fund underperformed its benchmark; though it did record positive absolute returns. In contrast, the Russell Investments Tax Effective Global Shares Fund posted strong absolute and excess returns for the quarter, benefiting from strong stock selection in the US; notably underweights to large growth names like Tesla, Apple and Amazon.com. Within our domestic equity portfolio, the Russell Investments Australian Factor Exposure Fund recorded positive absolute and excess returns for the quarter, driven largely by its value exposure, while the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund underperformed their benchmarks. However, the Core and Opportunities funds did deliver strong absolute performance for the quarter. Within the Fund’s traditional fixed income portfolio, the Russell Investments International Bond Fund – $A Hedged and the Russell Investments Australian Bond Fund delivered positive absolute and excess returns over the period, benefiting in part from their credit exposure. In terms of extended fixed income, Metrics Credit (Australian bank loans) and the Russell Investments Floating Rate Fund performed well over the period due to their lower sensitivity to interest rate movements. High-yield debt also outperformed. More broadly, the Fund’s exposure to global and domestic listed property added value in the final quarter, while a stronger Australian dollar impacted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-8.pdfNovember, 2022
The Russell Investments Diversified 50 Fund outperformed the benchmark in November. The Fund’s equal weighting to growth assets like Australian and global equities, and income assets like Australian and global bonds drives returns.
The Fund’s global equity portfolio contributed positively to fund performance, with the Russell Investments Tax Effective Global Shares Fund and the Russell Investments Global Opportunities Fund – $A Hedged recording strong absolute and excess returns for the month. Both funds benefited from strong stock selection in the US, including underweights to poor-performing growth names like Apple, Tesla and Amazon.com. The Russell Investments Multi-Asset Factor Exposure Fund posted more modest excess returns in November. In terms of domestic equities, the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund both underperformed their benchmarks over the period; though they did deliver strong absolute returns for the month. In contrast, the Russell Investments Australian Factor Exposure Fund narrowly outperformed its benchmark; the Fund benefiting from its value and quality factor exposures. Within our traditional fixed income portfolio, both the Russell Investments International Bond Fund – $A Hedged and the Russell Investments Australian Bond Fund outperformed their respective benchmarks in November. In terms of the Fund’s extended fixed income exposure, global high-yield debt and the Russell Investments Floating Rate Fund both outperformed over the period. Metrics Credit also performed well, with Australian loans continuing to generate income-like returns. Adding further value in November were our exposures to global and Australian listed property, which performed well against a backdrop of lower government bond yields.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-7.pdfOctober, 2022
The Russell Investments Diversified 50 Fund outperformed the benchmark in the September quarter. However, the Fund did deliver negative absolute returns for the period. Within the Fund’s global equity portfolio, both the Russell Investments Tax Effective Global Shares Fund and the Russell Investments Multi-Asset Factor Exposure Fund (MAFEF) outperformed their respective benchmarks; though the two funds did record negative absolute returns for the quarter. MAFEF in particular benefited from its momentum factor exposure. In terms of domestic equities, the Russell Investments Australian Shares Core Fund delivered strong absolute and excess returns over the period, while the Russell Investments Australian Factor Exposure Fund narrowly outperformed its benchmark. In contrast, the Russell Investments Australian Opportunities Fund recorded both negative absolute and benchmark-relative returns; the Fund impacted in part by poor stock selection within the materials space. Within our traditional fixed income portfolio, the Russell Investments International Bond Fund – $A Hedged and the Russell Investments Australian Bond Fund posted negative absolute returns for the quarter; though the latter did outperform its benchmark. In terms of extended fixed income, both Metrics Credit (Australian bank loans) and the Russell Investments Floating Rate Fund recorded strong absolute returns over the period due to their lower sensitivity to interest rate movements. More broadly, the Fund’s exposures to global and domestic listed property weighed on overall performance. Property stocks were impacted by rising interest rates, recession fears and a further spike in long-term government bond yields. Meanwhile, a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-6.pdfSeptember, 2022
The Russell Investments Diversified 50 Fund outperformed the benchmark in the September quarter. However, the Fund did deliver negative absolute returns for the period. Within the Fund’s global equity portfolio, both the Russell Investments Tax Effective Global Shares Fund and the Russell Investments Multi-Asset Factor Exposure Fund (MAFEF) outperformed their respective benchmarks; though the two funds did record negative absolute returns for the quarter. MAFEF in particular benefited from its momentum factor exposure. In terms of domestic equities, the Russell Investments Australian Shares Core Fund delivered strong absolute and excess returns over the period, while the Russell Investments Australian Factor Exposure Fund narrowly outperformed its benchmark. In contrast, the Russell Investments Australian Opportunities Fund recorded both negative absolute and benchmark-relative returns; the Fund impacted in part by poor stock selection within the materials space. Within our traditional fixed income portfolio, the Russell Investments International Bond Fund – $A Hedged and the Russell Investments Australian Bond Fund posted negative absolute returns for the quarter; though the latter did outperform its benchmark.
In terms of extended fixed income, both Metrics Credit (Australian bank loans) and the Russell Investments Floating Rate Fund recorded strong absolute returns over the period due to their lower sensitivity to interest rate movements. More broadly, the Fund’s exposures to global and domestic listed property weighed on overall performance. Property stocks were impacted by rising interest rates, recession fears and a further spike in long-term government bond yields. Meanwhile, a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-5.pdfAugust, 2022
The Russell Investments Diversified 50 Fund outperformed the benchmark in August. However, the Fund did deliver negative absolute returns for the month. The Fund’s equal weighting to growth assets like Australian and global equities, and income assets like Australian and global bonds drives returns. Within our global equity portfolio, both the Russell Investments Tax Effective Global Shares Fund and the Russell Investments Global Opportunities Fund – $A Hedged outperformed their benchmarks in August; though they did record negative absolute returns for the month. Excess returns were driven in part by the funds’ value bias and an overweight to emerging markets. The Russell Investments Multi-Asset Factor Exposure Fund performed in line with its benchmark. In terms of Australian equities, the Russell Investments Australian Shares Core Fund, the Russell Investments Australian Opportunities Fund and the Russell Investments Australian Factor Exposure Fund all delivered positive absolute and excess returns for the month. Within the Fund’s traditional fixed income portfolio, both the Russell Investments International Bond Fund – $A Hedged and the Russell Investments Australian Bond Fund recorded negative absolute returns; though the two funds did outperform their respective benchmarks. In terms of our extended fixed income exposure, the Russell Investments Floating Rate Fund and Metrics Credit generated positive returns in August, while the Russell Investments Global High Yield Fund gave back the previous month’s gains. Elsewhere in the Fund, our exposure to global and Australian listed property detracted from overall returns, while a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-4.pdfJuly, 2022
The Russell Investments Diversified 50 Fund narrowly underperformed the benchmark in July. However, the Fund did deliver positive absolute returns for the month. The Fund’s equal weighting to growth assets like Australian and global equities, and income assets like Australian and global bonds drives returns. The Fund’s global and Australian equity portfolios weighed on performance. In terms of global equities, the Russell Investments Tax Effective Global Shares Fund, the Russell Investments Multi-Asset Factor Exposure Fund and the Russell Investments Global Opportunities Fund – $A Hedged all underperformed their benchmarks in July; though all three funds recorded positive absolute returns for the month. Within our Australian equity portfolio, both the Russell Investments Australian Opportunities Fund and the Russell Investments Australian Factor Exposure Fund underperformed their benchmarks over the period; though, like their global counterparts, the funds delivered strong absolute returns. The Russell Investments Australian Shares Core Fund performed in line with its benchmark. In contrast, the Fund’s traditional fixed income portfolio added value in July, with both the Russell Investments International Bond Fund – $A Hedged and the Russell Investments Australian Bond Fund recording positive absolute and excess returns for the month. The two funds benefited in part from their credit exposures. Within our extended fixed income portfolio, the Russell Investments Floating Rate Fund performed well as prices on loans and securitised assets rebounded in line with a pickup in credit market activity. Our exposure to Australian listed property added further value in July. Meanwhile, in the currency space, a stronger Australian dollar negatively impacted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-3.pdfApril, 2022
The Russell Investments Diversified 50 Fund performed in line with the benchmark in April. The Fund’s equal weighting to growth assets like Australian and global equities, and income assets like Australian and global bonds drives returns.
The Fund’s global and domestic equity portfolios contributed positively to performance over the period. In terms of global equities, both the Russell Investments Tax Effective Global Shares Fund (TEGS) and the Russell Investments Multi-Asset Factor Exposure Fund outperformed their respective benchmarks in April. TEGS in particular benefited from its value bias and strong stock selection in Continental Europe. Within our Australian equity portfolio, the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund recorded positive excess returns for the month.
Both funds benefited from their value bias and a sizable underweight to BHP Group. Partly offsetting this was our exposure to the Russell Investments Australian Factor Exposure Fund, which narrowly underperformed its benchmark in April. Our exposure to Australian listed property added further value over the period. Australian listed property outperformed the broader domestic equity market amid better-than-expected earnings within the sector. Within our traditional fixed income portfolio, the Russell Investments International Bond Fund – $A Hedged delivered negative absolute returns for the month, though it did slightly outperform its benchmark.
The Russell Investments Australian Bond Fund recorded both negative absolute and benchmark-relative returns over the period. Credit returns were slightly negative in April, though global floating rate credit did outperform given its low sensitivity to interest rates. Our global listed property and global listed infrastructure exposures also weighed on performance in April.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-2.pdfJune, 2021
The Russell Investments Diversified 50 Fund narrowly outperformed the benchmark in the June quarter.
Contributing positively to performance were strong absolute returns from our global equity portfolio, including the Russell Investments Tax Effective Global Shares Fund and the Russell Investments Multi-Asset Factor Exposure Fund. However, both funds narrowly underperformed their benchmarks over the period. This was due largely to their value exposure, as investors tended to favour quality and growth names over more cyclical, cheaper value stocks. It was a similar theme within our Australian equity portfolio, with the Russell Investments Australian Shares Core Fund, the Russell Investments Australian Opportunities Fund and the Russell Investments Australian Factor Exposure Fund all recording strong absolute returns for the quarter but underperforming their benchmarks. The Fund’s credit exposure also added value over the period, including global floating rate credit and global high-yield debt. Our exposure to the Russell Investments Emerging Market Debt Local Currency Fund was also positive, as were our exposures to bank loans and securitised assets. Within our fixed income portfolio, both the Russell Investments International Bond Fund – $A Hedged and the Russell Investments Australian Bond Fund recorded positive absolute and excess returns for the quarter. The two funds benefited largely from their overweight to credit. An overweight to global listed property, which outperformed the broader global equity market over the period, added further value
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD-1.pdfDecember, 2020
The Russell Investments Diversified 50 Fund outperformed the benchmark in the December quarter. The Fund’s global and domestic equity portfolios contributed positively to performance over the period. In terms of global equities, both the Russell Investments Tax Effective Global Shares Fund and the Russell Investments Global Opportunities Fund delivered positive excess returns for the quarter, driven by strong performances from their emerging markets and UK equity specialists. The Russell Investments Multi-Asset Factor Exposure Fund also performed well, benefiting largely from its value exposure. Within our Australian equity portfolio, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Factor Exposure Fund recorded strong absolute and benchmark relative returns over the period.
The Fund’s credit exposure was also positive for the quarter; notably global high-yield debt and floating rate credit, which recorded good gains as bank loans and securitised assets continued to recover. Credit positioning also contributed to positive excess returns for the Russell Investments International Bond Fund – $A Hedged and the Russell Investments Australian Bond Fund. Also adding value over the period were our exposures to global and Australian listed property and an overweight to the Japanese yen. In contrast, a stronger Australian dollar impacted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_Diversified_50_Fund-Class_A-English-RetMA-AUD.pdfasset_class:
asset_category:
peer_benchmark:
broad_market_index:
manager_contact_details: Array
ticker: RIM0003AU
release_schedule: Monthly
commentary_block: Array
factsheet_url:
Fund factsheet
fund_features:
Russell Investments Diversified 50 Fund — Class A is broadly diversified across a 50/50 blend of defensive and growth assets. It may be suited to those investors looking for less volatile returns, yet would still like to maintain exposure to some growth assets.
- Aims to provide returns over the medium term, with moderate volatility, consistent with a diversified mix of defensive and growth oriented assets.
- The Fund typically invests in a diversified portfolio mix with exposure to growth investments of around 50% and defensive investments of around 50%.
- Derivatives may be used to implement investment strategies.
structure: Managed Fund