YBR flags cash fund 'outperformance'
Yellow Brick Road has announced a cash fund offered by an affiliated fund manager has been ranked highly by a Morningstar report.
Senior portfolio manager Darren Harvey said the fund had “consistently beaten the 'top quartile' (or 75th percentile) and 'median' (50th percentile) peer fund over the 1 month, 3 months, 6 months, 12 months, and 2 years to 31 December 2014”.
According to the statement, Morningstar found the Smarter Money fund returned 4.1 per cent over the year to 31 December 2014 while the median short-term fixed interest fund returned 3.2 per cent.
The fund holds, on average, 56 per cent of its portfolio in Australian deposits and the remainder in liquid Australian floating-rate notes, the statement said.