CSL up 58% for the year

The demand for plasma products, vaccines and pharmaceuticals continues to grow, which is benefiting shareholders of the $30 billion giant CSL (ASX: CSL).

As the financial year draws to a close and fund managers madly readjust their portfolios to realise capital gains, capital losses and “window dress” before the market closes this Friday, investors in CSL will no doubt be sitting back and smiling.

CSL which started the financial year trading just under $39 per share is now trading above $60, providing investors with a return of 58% excluding dividends. In comparison, for the last 12 months the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has returned 15%.

Just avoiding the resource sector has in fact been an advantage this year. With BHP Billiton (ASX: BHP) and Rio Tinto (ASX: RIO) falling 2% and 10% respectively, investors who weren’t exposed to these stocks have been better placed to at least keep up with the index or indeed outperform.

Foolish takeaway

As is often written in legal disclaimers, ‘past performance is no guarantee of future returns’ and so it is true with the stock market too. The poor performers in the past 12 months might just be the best performers over the next 12 months.

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Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article.

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