What Worked Australia - 30 Sep 2016 - Div Yield hurt once again

What Worked – The sell-off in high yield names continued from last week into this week with some of the highest yielding names names taking a hit. Genworth Mortgage (GMA, -0.7%), Cromwell Property Group (CMW, -2.1%) and Suncorp Group (SUN, -4.0%) among the worst affected, while the lower yielding small cap names bounced against the general market. Bradken Limited (BKN, +4.3%), Karoon Gas (KAR, +4.9%) and Sundance Energy (SEA, +8.1%) all posting strong returns for the week.

ROE also continued its decline in performance, ranking it amongst the worst performing factors over the last 6 months. Platinum Asset Management (PTM, -1.6%) Magellan Financial (MFG, -3.5%) and Sydney Airport (SYD, -0.3%) all taking a hit this week.

Who Moved – Only 9 names managed to move this week on higher than normal volumes. Finishing the week lower and backed by volume was Southern Cross Media (SXL, -8.5%) and Premier Investments (PMV, -5.3%), while SAI Global (SAI, +29.7%), AGL Eneregy (AGL, +9.0%) and Nufarm (NUF, +4.2%) all finished higher.


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