Mutual Funds Weekly Roundup: March 9

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Market Report Mutual Funds


Mutual Funds Weekly Roundup: March 9

Brian Mathews Mar 09, 2017

  • U.S. markets hit all-time highs for the fourth week in a row, with the DJIA closing at 21,006.
  • The best-performing fund so far for 2017 is T. Rowe Price Global Technology (PRGTX).
  • Large Cap Growth Equities is the best performing mutual fund subcategory based on 1-month return.

Market Wrap-Up

The financial sector had the week’s largest gain, up by 2.08% while being up by 7.33% year-to-date. With the Fed expected to raise interest rates in March, financial stocks benefit the most from the rate hike.

Explore our Mutual Fund Education section to learn more about important mutual fund concepts.

International Equities – The MSCI Developed Index had a slight increase of 0.47%, while the MSCI Emerging Index declined by 1.28% for the week. Japan’s NIKKEI 225 rebounded with an increase of 0.96% for the week and closed at 19,469.

Commodities – The commodity sector declined overall, with oil decreasing by $0.66 per barrel and closing at $53.33 per barrel. The price of gold decreased by $31 per troy ounce to $1,226. On the other hand, copper had a modest increase of $0.02 per pound and closed at $2.70.

Be sure to read our important tips on how to invest in the right commodity-based mutual fund.

Taxable Bonds – Treasury yields increased across all maturities, with the largest gain coming from both the 2-year and 10-year Treasury yields which increased by 17 bps. The 30-year Treasury also saw a big increase, up 12 bps to 3.07%.

Municipal Bonds – Municipal yields increased in both the 10-year and 30-year while the 2-year remained the same. The 2-year AAA-rated municipal yield remains at 1.01%, while the 10-year and 30-year AAA-rated yields increased by 12 and 11 bps, respectively.

After seven weeks of inflows, municipal bond funds had an outflow of -$241 million. With the Fed indicating that there may be a rise in interest rates this month, investors seem to be fleeing from bond funds that are likely to be negatively impacted.

In this context, you can also read about essential tax tips for mutual funds, so that you are aware of key strategies to limit your tax burden.

Performance Snapshot: Top Fund Category

Performance Snapshot: Top Fund

This fund’s largest holding is in, Inc (CRM) which is up more than 20% YTD.

Top 5 Performers

The following table provides the top-performing mutual funds on a YTD basis as of March 3, 2017. Only those funds that are rated 5 stars by Morningstar and that generated YTD returns greater than the one achieved by the S&P 500 are included.

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