Broader Australian market performed poorly during the March quarter, with the ASX All Ordinaries Accumulation Index down 2.4%, taking the 12 month performance to a decline of 8.0%. Financials were a large drag with the S&P/ASX 200 Financials Accumulation Index down 7.2% due to a weak performance by the banks. A recovery in resources shares partly offset the decline in fSX 50 Accumulation Index declines of 3.9% for the quarter and 12.1% for the past 12 months. Overall market has staged a recovery with the ASX All ordinaries Index up 5.7% for the two months to 31 May 2016.inancials, with the S&P/ASX 200 Materials Accumulation Index up 4.6% for the quarter. Energy also outperformed the broader market with the S&P/ASX 200 Energy Accumulation Index down 0.8% for the quarter. Property performed exceptionally well with the S&P/ASX A-REITS Accumulation Index up 6.4% as investors continued their hunt for yield. Small caps have continued to outperform large caps, with the S&P/ASX Small Ordinaries Accumulation Index rising 1% over the quarter and 3.7% over the last 12 months. See attached for further details.