Earlier this year I blogged about the technology sector returns and warned against jumping on the bandwagon. Well, not only is the tech sector still on a rampage, the market had its strongest quarterly stock gains in more than 10 years.
After a poor first quarter of 2009, and “not as bad” economic news following a dreadful 2008, the market began rebounding in March and remained strong in April and May. According to Lipper, 98% of all equity and mixed-equity funds were in the green for the quarter ending June 30. The average equity mutual fund was up 19.77%, and 77 out of 78 equity classifications were on the plus side.
It’s a welcome relief from a painful 2008, but don’t forget about managing your portfolio risk through diversification -- probably a point that doesn’t need to be reiterated after such recent market turmoil.
Let’s take a look at some of the second quarter performance numbers*:
-
World Equity Funds +26.66%
- US Large Cap Funds +15.86%
- US Small Cap Funds +21.80%
- US Dollar against the euro -5.84%
- US Dollar against the pound -11.87%
- Oil +40.74%
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