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Forbes.com has an article by Andrea D. Murphy showing preliminary results for mutual funds in various categories. While the stock market is still down significantly from the 2007 highs many funds showed good returns during the third quarter off the bottom. Some of the funds listed in the results tables in the article have high fees something that I think can be avoided but articles such as these provide good indications of what market sectors are leading the overall market. The article goes on to state:
“After taking a terrific pounding last year and suffering additional losses in the first quarter of this year mutual fund investors are on track to recover a bit–just a bit–of their lost paper profits in the second quarter of this year. Through June 25 domestic diversified equity funds show a year-to-date return of 6%. Sector funds as a group and world equity funds rose 7% and 12% respectively. These results come courtesy of Lipper a
Matthews India Fund symbol MINDX had an astounding 65.1% preliminary return in the second quarter followed by Rydex S&P SmallCap 600 Pure Value ETF with a 70% preliminary return. Funds that sold stocks short were obviously among the biggest losers. It is a welcomed pleasure to be writing about positive returns for the stock market again even if it is for only a quarter!
This week I am traveling following a weekend at beautiful Pick Wick lake with life long girlfriends. Aren’t girlfriend trips just the best? Have a fun and safe July 4th!