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Byline: PAUL KATZEFF
Fund sectors reflected the market's overall postwar buoyancy in April. All sector-fund categories except gold were up. Financial services led the way, gaining 10.84%, according to figures through Tuesday from Lipper Inc.
Gold funds fell 3.18%. Financials did well, thanks to their bounce off a low base.
"Financials had been weak through the first quarter," said Michael Holton, manager of $275 million T. Rowe Price Financial Services Fund.
They got help from global events.
"Events in Iraq progressed well," Holton said. "That made investors feel confident. They started to return to higher risk areas. Financials fit that bill to some extent."
Financials were also driven by encouraging earnings. "Almost across the board, earnings and outlooks were strong," Holton said.