The boutique fund manager Smarter Money Investments (“SMI”) is delighted to reveal that researcher Morningstar’s 31 December 2014 data show that the Smarter Money Active Cash Fund has convincingly outperformed competing active cash and short-term fixed interest products over every measurable period since its inception in February 2012.
“The latest Morningstar results indicate that Smarter Money Active Cash’s net returns have consistently beaten the “top quartile” (or 75th percentile) and “median” (50th percentile) peer fund over the 1 month, 3 months, 6 months, 12 months, and 2 years to 31 December 2014,” senior portfolio manager, Darren Harvey, said.
Published in The Australian Financial Review - Christopher Joye
A hedge fund pal overseeing $2 billion tells me he’s never been more bewildered in 30 years of investing. And he’s sympathetic to the hypothesis that the unprecedented decision of major central banks to set interest rates near zero and purchase trillions of dollars of privately traded assets is distorting prices.
Equities are expensive, fixed-rate government bonds (which trumped share returns in 2014) are in the biggest bubble in history, and Aussie housing (which is 30 per cent dearer than it was in 2008) is not far behind. Thus juts the question: how can one eke out reasonable returns above the cost of living without internalising unacceptable risks?