A choppy end of financial year saw the market close with a tiny gain in June. In 2017, the Australian sharemarket continued to lag offshore markets, recording a total return of 3.2% for the first six months (1.0% before dividends).
Our model share portfolios (income and growth) have produced positive returns this calendar year, although in part due to their weighting in ‘top 20 stocks’, have moderately underperformed. On a relative basis, the income portfolio has underperformed the index this year by 1.70% and the growth portfolio by 0.21%.
This is our sixth monthly portfolio review.