The ASX 200 index has gained a respectable 9.2 per cent over the past 12 months.
But that return doesn’t have a patch on the 41.1 per cent gain in the top performing Selector High Conviction Equity Fund in the year to 31st August 2018.
Writing in its most recent update, the fund mirrored the views of The Capital Club that many of the largest ASX 20 companies are struggling to grow.
The fund said bank shares, Telstra (ASX:TLS), Wesfarmers (ASX:WES) and Woolworths (ASX:WOW) have begun cost cutting, downsizing, divesting non-core operations and refocusing. No wonder their growth prospects look limited.