| Portfolio –
|3 years p.a.||12.6||12.5||0.0|
|5 years p.a.||10.5||8.6||2.0|
|7 years p.a.||13.7||10.4||3.4|
|10 years p.a.||10.1||8.2||1.9|
|15 years p.a.||11.3||8.4||2.9|
|Since Inception** p.a.||11.7||9.4||2.3|
Top 5 Holdings
|Portfolio (%)||Benchmark* (%)|
* Benchmark is the S&P/ASX 300 Accumulation Index.
** Inception date 30th September 2002
^ Total Return
Past performance is not a reliable indicator of future performance
ResMed Inc. (RMD-AU) released its results for the first quarter ended 30 September 2019, reporting revenue growth of 16% to $681m, gross profit margin expansion of 115bps to 59.5% and net profit growth of 14% to $120m. Geographically, revenue in the U.S., Canada and Latin America, excluding Software as a Service (SaaS), increased by 13% to $370m, driven by Mask sales which grew by 19% following new product releases. Revenue in the combined Europe, Asia and other markets increased by 4% to $224m, driven by Mask sales growth of 15% in the region. SaaS revenue increased 83% to $87m, due to continued growth in Brightree service offerings and incremental contributions from the recently acquired MatrixCare. Overall, the achieved margin expansion was predominantly due to manufacturing and procurement efficiencies, the MatrixCare acquisition and a favourable product mix.
Netwealth Group Limited (NWL-AU) released a market update for the first quarter ended 30 September 2019, reporting funds under administration (FUA) of $25.3b, an increase of $2.0b or 9% for the quarter. On an annual basis, FUA increased by $6.0b or +31%. Additionally, the company’s funds under management (FUM) increased by $496m or +13% to $4.4b during the quarter. Annually, FUM has grown by $1.4b or +44%. NWL-AU’s platform member accounts also achieved strong growth, increasing by 8,840 accounts or +14% to 72,711 member accounts as at 30 September 2019. Based on the latest Strategic Insights quarterly platform market update, NWL-AU increased its market share to 2.6% and achieved the highest quarterly and annual platform flows to June 2019, achieving net flows of +$1.5b and +$4.3b, respectively.
In Australia, the S&P/ASX 300 Index returned -0.4% after the Reserve Bank of Australia lowered the official cash rate to a new low of 0.75%. Health Care (+7.3%), industrials (+2.9%) and REITs (+1.4%) were the best performing sectors. Information technology (-3.2%), financials (-2.9%) and consumer staples (-2.2%) were the worst performers. Bulk commodity prices were mixed with hard coking coal and gold prices rising, whilst iron ore, thermal coking coal and brent oil prices fell. The U.S. dollar broadly declined against most G10 currencies during the month, expect against the Norwegian Krone and Japanese Yen.
Hyperion named AUSTRALIAN FUND MANAGER OF THE YEAR in the Morningstar 2016 Awards, Australia.
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