Mutual Funds Weekly Roundup: August 17

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Mutual Funds Weekly Roundup: August 17

Brian Mathews Aug 17, 2017 provides weekly information 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.
  • Both the U.S. equity and international markets were down for the week.
  • The best-performing fund so far for 2017 continues to be the Neuberger Berman Greater China Eq Instl (NCEIX).
  • Latin America Equities is the best-performing mutual fund subcategory based on the rolling month.
  • Make sure to check out the previous edition of the Weekly Roundup to keep track of changing trends in the mutual funds space.

Market Wrap-Up

U.S. Equities – U.S. equity markets were down across the board this week, with the Dow Jones Industrial Average declining 1.06% to close at 21,858. The S&P 500 had a decrease of 1.43% for the week, closing at 2,441. The NASDAQ Composite Index declined 1.50% for the third week in a row to close at 6,257. However, NASDAQ is still the best-performing major index on a year-to-date basis, up 16.23%.

The consumer staples sector was this week’s only positive sector and top-performing area, up 0.13%. The sector remained stable while all the other sectors declined thanks to companies like Proctor and Gamble Company (PG), which was up 0.74% for the week.

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

International Equities – International markets also declined for the week, with the MSCI Developed Index decreasing of 1.48%. The MSCI Emerging Index also had a decrease, down 2.24% for the week. However, the MSCI Emerging Market Index remains the best-performing index on a year-to-date basis, moving up 23.13%. Japan’s Nikkei 225 saw another week of decline, dropping 1.12% to close at 19,730.

Commodities – The commodity sector increased apart from crude oil, which declined $0.76 per barrel and closed at $48.82 per barrel. The price of gold increased $29 per troy ounce to close at $1,288. Copper was also up slightly for the week, increasing by $0.03 to close at $2.91.

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

Taxable Bonds – Treasury yields decreased across all maturities with the 2-year Treasury, which dropped 6 bps to yield 1.29% this week. The 10-year Treasury yield had a decline of 7 bps, while the 30-year Treasury yield decreased 5 bps to 2.79%.

Municipal Bonds – Similar to Treasury yields, municipal yields all decreased this week except the 30-year bonds. The 2-year AAA-rated bonds decreased 7 bps. The 10-year AAA-rated bonds dropped 1 bps, while the 30-year AAA-rated bond stayed flat and yields 2.73%. Municipal bond funds saw inflows for the fourth week, pulling in $471 million. The largest credit spread among Treasury and muni bonds decreased by 2 bps to 56 bps for the 5-year securities.

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 one-month return generated as of August 11, 2017.

Performance Snapshot: Top Fund

Top-performing fund: Neuberger Berman Greater China Eq Instl (NCEIX)

The fund’s largest holding is in Tencent Holdings Ltd (HKG:0700), which is up almost 70% on a year-to-date basis and around 12% for the trailing one-month.

Top 5 Performers

The following table provides the top-performing mutual funds on a YTD basis as of August 11, 2017. Only those funds that are rated five stars by Morningstar and that generated YTD returns greater than or equal to 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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