QUARTER TO 31 MAR 2018 |
The S&P/ASX 300 Accumulation Index returned -3.78% for the March quarter, with Health Care and Consumer Staples the top performing sectors and Financials and Materials the main detractors for the period.
The general global and domestic growth environment continues to look supportive for the share market, however, we are starting to have reservations that the goldilocks environment we have watched over the past 12 months may be coming to an end. There are a couple of big macro questions the market faces over the next 6 months that could change the direction of our views on the market, and to a degree, alter our positioning.
Ralton Australian Shares portfolio
Primary Health Care delivered a solid return for the quarter as investors gain more comfort about the turnaround under new CEO, Dr Malcolm Parmenter. It is one of Australia’s largest healthcare service providers, supporting GP medical centres, radiology and pathology.
Ralton High Yield Australian Shares portfolio
Computershare has again been the top performing stock in the portfolio during the quarter after delivering strong half-year financial results and benefiting from a continued move higher in global interest rates. It upgraded guidance with its results for a second time in recent months.
Ralton Smaller Companies portfolio
OFX Group put in a strong performance after the company provided some positive metrics about its turnaround and showcased its refined approach to its markets at the investor day held in March.
Ralton Leaders portfolio
Coca-Cola Amatil delivered a solid result in the face of tough market conditions resulting in the continued re-rating of the stock.