Mutual Funds Scorecard: June 11 Edition

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Mutual Funds Scorecard: June 11 Edition

Iuri Struta Jun 11, 2019

Every fortnight, provides a snapshot of the performance of some key mutual funds which tries to accurately capture the investor interest in specific areas of the financial markets. The report is aimed at providing a quick overview of the sectors, regions and asset classes that moved in a meaningful manner during the last two weeks.

Broad Indices

  • These past two weeks, both bonds and equities were up as investors cheered central banks’ signals that they are ready to boost monetary stimulus despite fears of trade wars and slower economic growth.
  • The S&P 500 Index Fund (VFINX) was the best performer with an advance of 1.76%.
  • The worst performer posted a strong absolute gain. Vanguard’s bond fund (VBMFX) rose 1.12%.
Broad indices

Major Sectors

  • Sectors were all up with a few exceptions.
  • The chemicals sector fund (FSCHX) was by far the best performer from the pack, jumping 5.84%, as one of the largest chemicals conglomerates DowDuPont recently finished its three-way breakup.
  • At the other end of the spectrum is the telecommunication fund (VTCAX), which declined 1.64%.
Major sectors

Foreign Funds

  • Foreign equities all posted gains although the performance was quite disparate.
  • Latin America equities fund (RLAIX) advanced nearly 6% for the past two weeks as the markets cheered a Mexico deal with the U.S. on immigrants, aimed at avoiding tariffs.
  • Meanwhile, Japanese equities fund (HJPNX) recorded the smallest gain, up just 0.26%.
Foreign funds

Major Asset Classes

  • In asset classes, the picture was decidedly more mixed.
  • Commodities fund (DXCTX) declined 2.45% and was the only loser along with managed futures fund (EVONX).
  • Pimco’s long-term bonds fund (PEDIX) was again the best performer with an advance of 4.29%.

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Major asset classes

The Bottom Line

Flows in equities and bonds have again moved in opposite directions, with equities seeing small outflows for the two weeks ended May 29. On the performance front, equities were the asset class that posted the strongest advances, with chemicals and Latin America among the clear outperformers. Commodities, Japanese equities, and telecom stocks were among the worst performers.

We provide this report on a fortnightly basis. To stay up to date with mutual fund market events, return to our news page here.

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