Mutual Funds Weekly Roundup: April 13

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Mutual Funds Weekly Roundup: April 13

Brian Mathews Apr 13, 2017 provides weekly information (April 3 to April 7) about any material impact on the mutual funds industry due to major economic and corporate events around the world. In addition, performance statistics on the top funds and fund categories are also provided.
  • U.S. markets were negative for the week, with the Dow Jones Industrial Average closing at 20,656.
  • The best-performing fund so far for 2017 is Wasatch Emerging India Institutional (WIINX).
  • India Equities continues to be the best-performing year-to-date and rolling one-month mutual fund subcategory.
  • Make sure to check out the previous edition of the Weekly Roundup to keep track of changing trends.

Market Wrap-Up

U.S. Equities – U.S. equity markets showed moderate declines for the week. The Dow Jones Industrial Average decreased by 0.03% to 20,656 and is up 4.52% year-to-date. The S&P 500 decreased 0.30% for the week and settled at 2,356. The NASDAQ Composite Index was also down 0.57% for the week to 5,878. Investors continue to show signs of worry with a volatile week in the markets.

The real estate sector was this week’s top-performing area, with a positive 0.63% return. With positive existing and new home sales from the week prior, the real estate sector saw an uptick. The sector is also up 3.38% on a year-to-date basis.

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

International Equities – International equities were a mixed bag this week. The MSCI Developed Index had a slight decrease of 0.65%, while the MSCI Emerging Index saw an increase of 0.38% for the week. Japan’s NIKKEI 225 continues to fall for the fourth week in a row, down 1.29%, and closed at 18,665.

Commodities – The commodity sector performed well this week, with crude oil increasing $1.64 per barrel and closing at $52.24 per barrel. The price of gold increased $7 per troy ounce to $1,254, while copper had a slight decline of $0.01 per pound to close at $2.65.

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

Taxable Bonds – Treasury yields showed little movement overall except in the shorter-term maturities. The two-year Treasury yield increased by 4 bps to 1.29%. The 10-year Treasury saw a modest decline of 1 bps to 2.38%. The 30-year Treasury remained flat for the third week in a row and continues to yield 3.01%.

Municipal Bonds – Municipal yields declined across all maturities, with the two-year AAA-rated bonds decreasing 2 bps to 1.01%. The 10-year AAA-rated municipal decreased by 7 bps while the 30-year decreased by 9 bps. After seeing inflows for two weeks in a row, municipal bond funds witnessed outflows of $368 million.

Credit spreads widened, with the largest spread still remaining between the five-year Treasury and the AAA-rated municipal at 40 bps. The spread between the 30-year AAA-rated municipal and the 30-year Treasury showed big movement this week, with Treasuries now providing a 3 bps higher yield than the municipal equivalent.

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

The following table provides a list of the top-performing mutual fund subcategories for the previous week within the broader categories of the industry. In each of these subcategories, we have listed the top mutual funds based on the 1-month return generated as of April 7, 2017.

Performance Snapshot: Top Fund

Top-performing fund: Wasatch Emerging India Institutional (WIINX)

This fund’s largest holding is in MakeMyTrip Limited (MMYT), which is up more than 64% YTD.

Top 5 Performers

The following table provides the top-performing mutual funds on a YTD basis, as of April 7, 2017. Only those funds that are rated 5 stars by Morningstar and that generated YTD return greater than that achieved by the S&P 500 are included.

We provide this report on a weekly basis. To stay up to date with mutual fund market events, return to our News section.

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