S&P Dow Jones Indices – SPIVA Australia Year-End 2023

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The SPIVA Australia Scorecard measures the performance of actively managed funds relative to benchmarks over various time horizons, covering equity, real estate and bond funds, and providing statistics on outperformance rates, survivorship rates and fund performance dispersion. In this year-end 2023 edition, domestic equity funds in New Zealand are included for the first time.

2023 Highlights

It was among the best of times and the worst of times for actively managed funds. In the Australian Equity General category, more than three-quarters of active managers failed to keep up with the S&P/ASX 200, and a similar story was seen in the International Equity General category. Meanwhile, active bond managers had an exceptional year, with almost three-quarters of Australian Bonds funds beating the S&P/ASX Australian Fixed Interest 0+ Index. Exhibit 1 summarizes the results across all our reported categories.

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