The Sage Capital portfolios produced solid returns in April. The CC Sage Capital Absolute Return Fund delivered a net return of 1.72%* and the CC Sage Capital Equity Plus Fund delivered a net return of 4.30%*, outperforming their respective benchmarks by 1.72% and 0.83% for the month.
The S&P/ASX200 Accumulation Index finished up 3.47% in April as easy liquidity conditions and improving economic momentum drove markets. The bond yield rallied a little and the yield curve stopped steepening, so rather than rotation - there was strength right across the market.
Resources were the strongest performing Sage Group^ with stocks ripping higher on the back of strong iron ore and base metal prices. Copper was a real standout for gains along with iron ore. With a little bond relief, Growth rebounded with a broad-based move higher across the space. Yield was also an outperformer. Solid gains across fund managers, banks and insurers helped to drive the Yield group. Not surprisingly in a strong market, the more defensive groups such as REITs, Gold and Defensives were the laggards.
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