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Financials And Tech Funds Topped Their Sectors In April.(SERIES: FUNDS & PERSONAL FINANCE)(IBD SPECIAL REPORT)

Investor's Business Daily

| May 02, 2003 | Katzeff, Paul | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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.

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