The latest Lipper data shows technology and telecoms sector was the top performer in October with a ...
The latest Lipper data shows technology and telecoms sector was the top performer in October with a return of 12.55%.
This, Lipper reported, was the best monthly return for the sector since November 2001, when it posted a rise of 17.21%.
In September, technology and telecoms funds fell by just over 17%. Japan and UK smaller companies funds were the bottom performers in October and bonds funds, on average, performed negatively.
Although October was a good month, the long-term performance of technology and telecoms funds remains mixed.
The downturn of the sector from March 2000 has hurt one, three and five-year returns, which are down 40.79%, 62.87% and 22.56% respectively, according to Lipper. Returns for the year to date are down 49.31%.
Bond funds fell an average 1.08% in October after two consecutive positive months. This compares with a 4.19% rise for equity funds.
Brian Harvey, head of research at Lipper in the UK, said it may be some time before global growth returns.
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