What Worked Australia - 25 Nov 2016 - Dull week for factors, great for the index

What Worked – A pretty dull week in terms of factor direction in the Australian market this week. Beta was the best performing factor, and maintains its position in the top ranked factors over the last 3 months. High Beta names ticked up making up losses from the previous week, and largely involved the miners. Santos Limited (STO, +7.5%), Whitehaven Coal (WHC, +9.0%) and South32 Limited (S32, +10.5%) all benefitting, while Fisher & Paykel health (FPH, -4.9%), Newcrest Mining (NCM, -3.9%) and Trade Me Group (TME, -3.0%) all took a hit.

ROIC did not perform well at all this week with the switch into Beta, with low return names like NewsCorp (NWS, -0.8%), AusNet Services (AST, -0.3%) and Boral Limited (BLD, -12.9%) all finishing the week weaker.

Who Moved – 11 names moved this week on significantly higher than normal volumes. Boral (BLD, -12.9%), iSentia Group (ISD, -6.4%) and Automotive Holdings Group (AHG, -5.4%) all finishing the week lower, while a2 Milk (A2M, +11.4%), Technology One (TNE, +8.0%) and IPH Limited (IPH, +6.7%) all finished up higher than the index.


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