U.S. stock mutual funds added a fourth week to their string of advances, though the gains have been successively weak.
The average U.S. diversified stock fund added 0.32% in the latest week, according to Lipper data. The rise followed gains of 4.06%, 2.22% and 1.55% the previous three weeks and lifted the year-to-date gain to 6.32%.
Large-cap growth rose the most among diversified stock funds in the latest week, rising 0.66%. For the year, S&P 500 funds were on top with an 11.76% return. The trackers of the broad stock market index climbed 0.45% in the latest week.
Telecoms and precious metals took a rare turn as top sectors, delivering to investors gains of 4.68% and 1.79%. Real estate’s 23.48% year-to-date gain kept it atop the sector fund performance list, followed by health/biotechnology’s 23.21%.
Japan led world equity, following the previous week’s 1.74% rise with a 1.57% gain in the latest week. China funds rallied 1.15%. India had by far the best-performing world region funds year-to-date, showing a 41.33% advance.