The ALL ORDINARIES (ASX: XAO) has had one of its best years in recent memory despite a number of bumps along the way. After the last trading day of the year it was up 9% over the last 12 months, not including dividends.
This performance was despite the big banks coming under fire during the Royal Commission. Commonwealth Bank of Australia (ASX: CBA) was down 12% over the year, Westpac Banking Corp (ASX: WBC) dropped 4%, Australia and New Zealand Banking Group (ASX: ANZ) fell by 2% and National Australia Bank Ltd (ASX: NAB) declined by 7%.
One of the main drivers of the index's performance over the past year was commodity prices rising. This had a big effect on BHP Billiton Limited (ASX: BHP) which went up by 46%, Woodside Petroleum Limited (ASX: WPL) increased by 20% and Rio Tinto Limited (ASX: RIO) grew by 32%.
One of the main stories this year was that Australian blue-chips with foreign earnings were particularly strong performers with CSL Limited (ASX: CSL) up by 40%, Macquarie Group Ltd (ASX: MQG) up by 40% too, Cochlear Limited (ASX: COH) up by 29% and ResMed Inc. (CHESS) (ASX: RMD) up by 40% as well.
The other main story was that mid-cap growth stars aren't stopping growing any time soon. Altium Limited (ASX: ALU) was up 162%, a2 Milk Company Ltd (ASX: A2M) increased by 180%, WiseTech Global Ltd (ASX: WTC) went up 126% and Xero Limited (ASX: XRO) went up 86%.
Foolish takeaway
The ASX may have another solid year if resource prices climb further, the banks put the Royal Commission behind them and Telstra Corporation Ltd (ASX: TLS) can put its 5G woes behind it.
However, I think the best place for your money on the ASX is in mid-cap growth shares.
