Mercer released its investment survey for December, with Selector High Conviction Equity Fund taking out the top spot for the year.
The Selector High Conviction Equity Fund rose 39.2 per cent over the year, after gaining 2.6 per cent in the three months to December.
Regal Australia Long Short Equity Fund came second, with a 38.2 per cent increase in performance over the year even after a 2 per cent decline in the three months to December,
ECM AM All Cap rounded out the top three, with a 36.4 per cent performance increase over the year. after gaining 3.2 per cent in the three months to December.
The benchmark S&P/ASX 200 index rose 23.4 per cent over the year after rising 0.7 per cent in December,
The investment fund rating firm noted that funds in the top quartile for the year were generally those that were overweight healthcare, materials, consumer discretionary, industrials and information technology.
“BHP and Macquarie Group were among the large cap stocks carrying the S&P/ASX 300 Index over the quarter, and those without exposure to these stocks suffered relative to the index.
“On a one-year basis, those stocks were also the leading performers, in addition to Wesfarmers, Transurban and Fortescue Metals Group,” Mercer said.