September, 2023
The Russell Investments High Growth Fund narrowly outperformed the benchmark in the September quarter. However, the Fund did deliver negative absolute returns over the period.
Within our global equity portfolio, the Russell Investments Tax Effective Global Shares Fund outperformed its benchmark, benefiting from stock selection in Japan. This included our holdings in retailer Ryohin Keikaku Co. and Toyo Tire Corp. Stock selection in the UK also added value over the period; notably overweights to electric services company Centrica and multinational aerospace and defence firm Rolls-Royce. In contrast, 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 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. Stock selection within the sector also weighed on returns, including overweights to ResMed and New Zealand’s Fisher & Paykel Healthcare. The Russell Investments Australian Factor Exposure Fund outperformed its benchmark; though absolute returns were negative. Elsewhere in the Fund, our exposures to global and Australian listed property and global listed infrastructure weighed on performance after government bond yields rose sharply over the period. Meanwhile, the Fund benefited from its exposure to Metrics Credit, which performed well as Australian loans continued to generate income-like returns. A weaker Australian dollar (relative to the US dollar) also boosted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_High_Growth_Fund-Class_A-English-RetMA-AUD-7-1.pdfAugust, 2023
The Russell Investments High Growth Fund narrowly underperformed the benchmark in August. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
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 and an overweight to energy provider Centrica. In contrast, both the Russell Investments Multi-Asset Factor Exposure Fund (MAFEF) and the Russell Investments Global Opportunities Fund – $A Hedged (RGOF) delivered negative absolute and excess returns for the month. MAFEF’s underperformance was driven largely by its value factor exposure, while RGOF was impacted by poor stock selection in the US. This included underweights to strong-performing names like chip maker NVIDIA, e-commerce platform Amazon.com and pharmaceutical company Eli Lilly & Co. 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. Meanwhile, the Fund benefited from its exposure to Australian listed property and Metrics Credit, with Australian loans continuing to generate income-like returns. A weaker Australian dollar (relative to the US dollar) also boosted the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_High_Growth_Fund-Class_A-English-RetMA-AUD-5-1.pdfJuly, 2023
The Russell Investments High Growth Fund outperformed the benchmark in July. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
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 Multi-Asset 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. Stock selection in the UK added further value; notably overweights to Centrica and Land Securities Group. MAFEF benefited largely 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 (RAOF) also recorded positive absolute and benchmark-relative returns in July. The Core Fund’s outperformance was driven by stock selection within the materials and consumer discretionary sectors; the latter including an overweight to IDP Education, which climbed almost 13% over the period. RAOF also benefited from stock selection amongst materials; notably an underweight to iron ore major Fortescue Metals Group. The Russell Investments Australian Factor Exposure Fund performed in line with its benchmark in July; though absolute returns were positive. The Fund also benefited from its exposure to global and Australian listed property and Metrics Credit, with Australian loans continuing to generate incomelike returns over the period. 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_High_Growth_Fund-Class_A-English-RetMA-AUD-1-3.pdfJune, 2023
The Russell Investments High Growth Fund narrowly outperformed the benchmark in the June quarter.
The Fund’s equity portfolio was mixed over the period. 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; notably overweights to Xero, WiseTech Global and NEXTDC. RAOF’s outperformance was driven by strong stock selection amongst materials and financials, including overweights to QBE Insurance and Virgin Money UK. The Russell Investments Australian Factor Exposure Fund narrowly outperformed its benchmark, benefiting largely from its growth factor exposure. 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 poor stock selection in the US, including underweights to large growth names like Apple and Amazon.com, while MAFEF’s underperformance was driven in part by its value factor exposure. More broadly, the Fund benefited from its exposure to global and Australian listed property. Metrics Credit also performed well, with Australian loans continuing to generate income-like returns. 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_High_Growth_Fund-Class_A-English-RetMA-AUD-4-1.pdfMay, 2023
The Russell Investments High Growth Fund narrowly outperformed the benchmark in May. However, the Fund did deliver negative absolute returns for the month. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
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 poor stock selection in the US; notably underweights to large cap names like NVIDIA Corp., Apple and electric car maker Tesla. Other US positions to impact returns were underweights to e-commerce giant Amazon.com and semiconductor manufacturer Broadcom. 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, including overweights to Xero, WiseTech Global and NEXTDC. RAOF benefited from strong stock selection within the energy space. This included overweights to oil and gas producer Santos and energy retailer Ampol. Nil holdings in poor-performing names like uranium explorer Paladin Energy and coal miner New Hope Corp. were also positive. The Fund’s exposure to Metrics Credit added further value over the period, with Australian loans continuing to generate income-like returns. 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_High_Growth_Fund-Class_A-English-RetMA-AUD-2-1.pdfApril, 2023
The Russell Investments High Growth Fund outperformed the benchmark in April. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets. 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. Stock selection in the US added further value in April, including an underweight to electric car maker Tesla, which fell almost 20% over the period. In contrast, the Russell Investments Multi-Asset Factor Exposure Fund was flat for the month. Within our Australian equity portfolio, 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 for the month.
RAOF’s outperformance was driven by strong stock selection within the materials sector; notably underweights to major miners BHP Group and Fortescue Metals Group. An overweight to takeover target Newcrest Mining also added value. Elsewhere in the Fund, our exposures to global listed infrastructure and global and Australian listed property contributed positively to performance in April.
Metrics Credit also performed well over the period, with Australian loans continuing to generate income-like returns. Meanwhile, a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
File:March, 2023
The Russell Investments High Growth Fund outperformed the benchmark in the March quarter. The Fund’s equity portfolio was mixed over the period. In terms of domestic equities, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund delivered positive absolute and excess returns for the quarter, benefiting from strong stock selection within the financials space.
This included underweights to poor-performing names like Commonwealth Bank of Australia and Westpac Banking Corp. In contrast, the Russell Investments Australian Factor Exposure Fund narrowly underperformed its benchmark, driven by its low-volatility, value and momentum factor exposures. Within our global equity portfolio, both the Russell Investments Tax Effective Global Shares Fund (TEGS) and the Russell Investments MultiAsset Factor Exposure Fund (MAFEF) underperformed their respective benchmarks over the period; though the two funds did record strong absolute returns for the quarter.
TEGS was impacted by poor stock selection in the US, including underweights to large growth names like Apple and electric car maker Tesla, while MAFEF’s underperformance was driven largely by its value factor exposure. More broadly, the Fund benefited from its exposure to global and Australian listed property and global listed infrastructure; all of which benefited from the sharp decline in longer-term government bond yields we saw over the period. Metrics Credit also performed well, with Australian loans continuing to generate income-like returns. Meanwhile, a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
File:February, 2023
The Russell Investments High Growth Fund outperformed the benchmark in February. However, the Fund did deliver negative absolute returns for the month. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
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. This included underweights to BHP Group and Pilbara Minerals; both of which declined amid general weakness across the broader commodities complex. 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, NVIDIA Corp. and electric car maker Tesla. The Russell Investments Multi-Asset Factor Exposure Fund also underperformed over the period. More broadly, the Fund’s exposures to global and Australian listed property weighed on overall performance as government bond yields jumped on the back of US rate hike expectations, 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_High_Growth_Fund-Class_A-English-RetMA-AUD-1-2.pdfJanuary, 2023
The Russell Investments High Growth Fund outperformed the benchmark in January. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets. 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. This included material overweights to industrial property giant Goodman Group and Charter Hall Group. 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, including underweights to lithium producer Pilbara Minerals, iron ore major BHP Group and diversified miner South32.
The Russell Investments Australian Factor Exposure Fund performed in line with its benchmark over the period. More broadly, our exposures to global listed infrastructure and global and Australian listed property added 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_High_Growth_Fund-Class_A-English-RetMA-AUD-10.pdfDecember, 2022
The Russell Investments High Growth Fund outperformed the benchmark in November. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
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, electric car maker Tesla and e-commerce giant 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, driven in part by a sizable underweight to the strong-performing materials space. This included underweights to iron ore majors Fortescue Metals Group, Rio Tinto and BHP Group; all of which posted very strong gains for the month. In saying that, the two funds did deliver strong absolute returns for the month. In contrast, the Russell Investments Australian Factor Exposure Fund narrowly outperformed its benchmark in November, benefiting from its value and quality factor exposures. 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, while a stronger Australian dollar weighed on the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_High_Growth_Fund-Class_A-English-RetMA-AUD-9.pdfNovember, 2022
The Russell Investments High Growth Fund outperformed the benchmark in November. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
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, electric car maker Tesla and e-commerce giant 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, driven in part by a sizable underweight to the strong-performing materials space. This included underweights to iron ore majors Fortescue Metals Group, Rio Tinto and BHP Group; all of which posted very strong gains for the month. In saying that, the two funds did deliver strong absolute returns for the month. In contrast, the Russell Investments Australian Factor Exposure Fund narrowly outperformed its benchmark in November, benefiting from its value and quality factor exposures. 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, while a stronger Australian dollar weighed on the returns of the Fund’s assets denominated in foreign currency.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_High_Growth_Fund-Class_A-English-RetMA-AUD-8.pdfOctober, 2022
The Russell Investments High Growth Fund narrowly outperformed the benchmark in October. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets. Within our global equity portfolio, the Russell Investments Multi-Asset Factor Exposure Fund recorded strong excess returns on the back of its value factor exposure, while both the Russell Investments Tax Effective Global Shares Fund (TEGS) and the Russell Investments Global Opportunities Fund – $A Hedged (RGOF) narrowly outperformed their respective benchmarks. Both TEGS and RGOF benefited from stock selection in the US; notably underweights to poor-performing growth names such as Tesla and Amazon.com. In terms of domestic equities, the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Factor Exposure Fund recorded modest excess returns for the month, while the Russell Investments Australian Opportunities Fund (RAOF) underperformed its benchmark. RAOF’s underperformance was driven largely by a material underweight to the strong-performing banking sector, including names like Commonwealth Bank of Australia, Westpac Banking Corp. and National Australia Bank. Elsewhere in the Fund, our exposures to global and Australian listed property contributed positively to performance. Listed property performed well against a backdrop of mostly lower government bond yields. Australian listed property was further supported by the Reserve Bank of Australia’s decision to cut interest rates by less than expected despite uncomfortably high inflation. 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_High_Growth_Fund-Class_A-English-RetMA-AUD-7.pdfSeptember, 2022
The Russell Investments High Growth Fund narrowly underperformed the benchmark in the September quarter. Within the Fund’s domestic equity portfolio, the Russell Investments Australian Opportunities Fund recorded both negative absolute and benchmark-relative returns for the quarter; the Fund impacted in part by poor stock selection within the materials space. This included an underweight to Pilbara Minerals, which almost doubled in price on the back of rising lithium prices. In contrast, 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 terms of global equities, both the Russell Investments Tax Effective Global Shares Fund (TEGS) 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. TEGS benefited from strong stock selection in emerging markets and Asia Pacific ex Japan, while MAFEF’s outperformance was driven largely by its momentum factor exposure and regional positioning, including an underweight to emerging markets. 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_High_Growth_Fund-Class_A-English-RetMA-AUD-6.pdfAugust, 2022
The Russell Investments High Growth Fund outperformed the benchmark in August. However, the Fund did deliver negative absolute returns for the month. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
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 exposure to emerging markets, which outperformed their developed counterparts over the period. The Russell Investments Multi-Asset Factor Exposure Fund performed in line with its benchmark. In terms of Australian 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 month. The Core Fund benefited from positive stock selection amongst quality growth names, including overweights to takeover target OZ Minerals and IGO Ltd., while RAOF’s outperformance was driven by a material underweight to banks. This included underweights to names like Commonwealth Bank of Australia, National Australia Bank and Bendigo and Adelaide Bank; all of which underperformed the broader market in August.
Elsewhere in the Fund, our exposure to global and Australian listed property detracted from overall returns as longer-term government bond yields climbed higher, 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_High_Growth_Fund-Class_A-English-RetMA-AUD-5.pdfJuly, 2022
The Russell Investments High Growth Fund underperformed the benchmark in July. However, the Fund did deliver positive absolute returns for the month. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets. The Fund’s global and Australian equity portfolios detracted from performance. In terms of global equities, the Russell Investments Tax Effective Global Shares Fund (TEGS) and the Russell Investments Multi-Asset Factor Exposure Fund underperformed their benchmarks in July; though both funds recorded positive absolute returns for the month. TEGS in particular was impacted by its value bias as growth stocks outperformed. Poor stock selection in the US also weighed on returns. 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 exposure to Australian listed property added value in July. Australian listed property significantly outperformed the broader domestic equity market amid a sharp decline in longer-term government bond yields. Our exposure to the Russell Investments Global Listed Infrastructure Fund – Hedged (RGLIF) also contributed positively to performance. RGLIF outperformed largely on the back of underweights to airports and marine ports. 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_High_Growth_Fund-Class_A-English-RetMA-AUD-4.pdfJune, 2022
The Russell Investments High Growth Fund performed in line with the benchmark in the June quarter. Within the Fund’s global equity portfolio, both the Russell Investments Tax Effective Global Shares Fund (TEGS) and the Russell Investments Multi-Asset Factor Exposure Fund (MAFEF) posted negative absolute returns for the quarter; though the two funds did outperform their respective benchmarks. TEGS in particular benefited from a long-held underweight to the US and a preference for value stocks, while MAFEF benefited from its value and low-volatility factor exposures. We still prefer non-US developed equities over US equities. We believe non-US developed equities are relatively cheaper and likely to benefit from weakness in the US dollar should the US Federal Reserve become less hawkish. In terms of domestic equities, both the Russell Investments Australian Opportunities Fund and the Russell Investments Australian Shares Core Fund posted negative absolute returns for the quarter but outperformed their benchmarks.
The Russell Investments Australian Factor Exposure Fund underperformed its benchmark over the period, due largely to its value and momentum factor exposures. The Fund’s exposure to global and Australian listed property also weighed on performance. Both global and Australian listed property markets recorded steep declines for the quarter. Meanwhile, currency positioning was mixed over the period. An overweight to the Japanese yen detracted from 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_High_Growth_Fund-Class_A-English-RetMA-AUD-3.pdfJune, 2021
The Russell Investments High Growth Fund underperformed the benchmark in the June quarter. However, the Fund did deliver strong absolute returns for the period.
Contributing to the Fund’s underperformance were negative excess returns from our global equity portfolio, including the Russell Investments Tax Effective Global Shares Fund and the Russell Investments Multi-Asset Factor Exposure Fund. Both funds were impacted largely by their value exposure, as investors tended to favour quality and growth names over more cyclical, cheaper value stocks. Regional positioning also weighed on the funds’ performance, with emerging markets, Japan and Europe underperforming the US; where we remain underweight. However, the two funds did deliver strong absolute returns for the quarter. 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. In contrast, the Fund’s credit exposure added value over the period. This included our exposures to global floating rate credit and global high-yield debt. Our exposure to the Russell Investments Emerging Market Debt Local Currency Fund was also positive. Also adding value were the Fund’s overweights to global and Australian listed property. Both global and Australian listed property outperformed their broader equity market counterparts over the period.
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_High_Growth_Fund-Class_A-English-RetMA-AUD-2.pdfMay, 2021
The Russell Investments High Growth Fund outperformed the benchmark in May. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
The Fund’s global equity portfolio contributed positively to performance, with the Russell Investments Tax Effective Global Shares Fund and the Russell Investments Multi-Asset Factor Exposure Fund recording strong absolute and benchmark-relative returns for the month. Both funds benefited from their value bias as value stocks outperformed their growth counterparts over the period. The Russell Investments Global Opportunities Fund (AUD Hedged), which represents a relatively small portion of our global equity portfolio, also performed well in May. Within our Australian equity portfolio, the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund delivered positive absolute returns for the month, however both funds underperformed their benchmark. Much of this benchmark-relative underperformance was driven by a handful of stock-specific positions; notably a sizable underweight to CBA. Meanwhile, the Russell Investments Australian Factor Exposure Fund delivered positive absolute and benchmark-relative returns in May, driven largely by its value exposure
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_High_Growth_Fund-Class_A-English-RetMA-AUD-1-1.pdfApril, 2021
The Russell Investments High Growth Fund narrowly underperformed the benchmark in April. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets. The Fund’s equity portfolio was mixed over the period. In terms of global equities, the Russell Investments Tax Effective Global Shares Fund (TEGS) recorded strong absolute returns in April but underperformed its benchmark. TEGS was impacted in part by its procyclical bias as investors tended to favour growth-oriented names over more cyclical,
cheaper value stocks. The Russell Investments Multi-Asset Factor Exposure Fund and the Russell Investments Global Opportunities Fund (AUD Hedged) both performed in line with their respective benchmarks over the period; though, like TEGS, they did deliver strong absolute returns for the month. It was a similar theme within our Australian equity portfolio, with the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund delivering positive absolute returns for the month but underperforming their benchmark. Meanwhile, the Russell Investments
File: https://commentary.quantreports.net/wp-content/uploads/2021/02/Russell_Investments_High_Growth_Fund-Class_A-English-RetMA-AUD-1.pdfDecember, 2020
The Russell Investments High Growth Fund outperformed the benchmark in the December quarter. The Fund’s global and domestic equity portfolios drove 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 as positive vaccine developments saw investors rotate out of expensive growth names in favour of value stocks. Within our Australian equity portfolio, the Russell Investments Australian Shares Core Fund, the Russell Investments Australian Opportunities Fund and the Russell Investments Australian Factor Exposure Fund all 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. Also adding value were our exposures to global and Australian listed property and the Russell Investments Australian Floating Rate Fund (formerly the Russell Investments Australian Cash Enhanced Fund). An overweight to the Japanese yen, which strengthened against the US dollar, added further value. 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_High_Growth_Fund-Class_A-English-RetMA-AUD.pdfasset_class:
asset_category:
peer_benchmark:
broad_market_index:
manager_contact_details: Array
ticker: RIM0034AU
release_schedule: Monthly
commentary_block: Array
factsheet_url:
Fund Factsheet
fund_features:
Russell Investments High Growth Fund invests 100% in growth assets, including alternatives. The Fund aims to provide capital growth over the long term consistent with a portfolio focusing solely on growth assets, while accepting fluctuations in capital values in the medium term.
- The Fund may be suitable for those investors seeking to generate wealth over the long term who are willing to accept short medium-term volatility. Investors must be prepared to accept fluctuations in capital values in the medium term.
- Derivatives may be used to implement investment strategies.
structure: Managed Fund