March saw mixed performance for growth assets, with positive returns from Australian shares and International shares (unhedged to $A), whereas Australian Listed Property was negative. Financial asset (Australian and international fixed interest) performance was positive for the month.
The Australian stock market gained 1.2% in March, following a return of 2.0% in February (S&P/ASX300 Accumulation Index). Industrial stocks outperformed Resource stocks over the month, returning 3.5% and -3.9% respectively.
Overall, international stock markets gained 5.8% in March, following a return of 3.2% in February (MSCI World Ex Australia in $AUD (unhedged)).
The US stock market increased 3.1% in March, following a return of 4.1% in February (S&P500). Technology stocks were also positive, returning 4.2% for the month (NASDAQ).
The UK stock market returned -1.8% for the month, following a gain of 3.3% in February (FTSE
The Japanese stock market (Nikkei) gained 3.7% for the month, following a return of 10.5% the previous month.
Emerging markets returned 0.8% for the month in Australian dollar terms, following a gain of 4.3% in February (MSCI Emerging Markets Free ($AUD) Accumulation Index).
Australian listed property gained fell 0.7% for the month (S&P/ASX200 Property Trust Accumulation Index), following a return of 2.2% the previous month.
The Australian bond market (UBS Australia Composite Bond Index) gained 0.8% in March. The international bond markets (Barclays Capital based Aggregate index (hedged to $AUD) (formerly Lehman Brothers Index)) returned 0.2% for the month.
The Australian short-term money market returned 0.4% (UBS Warburg Australia Bank Bill Index).