Managed funds boast good returns for the year

Average performance for active New Zealand funds in March was over 4%, which saw New Zealand equity fund managers returning on average 22% for the year.

The top performer was the AXA Australasian Selected Equities fund with 4.49% for the month and 24.73% for the year. It was closely followed by the BT NZ - NZ Plus Share fund with 24.06% for the year after a 3.85% return in March.

"There has been a combination of factors providing a catalyst for positive New Zealand equity fund return over the past year, including increased corporate activity, price/earnings ratio expansion and a general increase in appetite for risk by investors" FundSource business manager Tim Anderson says.

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