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Small Caps Led Stock Funds In Week Holidays Hurt Retailers Gold funds, small-cap growth gained, Korean funds lost on war fears.(A)
Byline: DAN MOREAU
Reflecting a rebound in the stock market, S&P 500 index funds topped performance in the week of Dec. 26 through Jan. 2, Lipper Inc. reported. They were up 2.22% on average.
The bulk of that occurred on the new year's first market day. The benchmark soared 3.3%. It rose 0.43 point on Dec. 31. The bogey fell the four trading sessions prior to that.
The broad market rally also boosted multi-cap value funds. They were the second best-performing fund category, rising 2.2% in the week.
Large-cap value funds came in third, up 2.17%. Mid-cap value funds followed, up 2.5%.
Overall, U.S. diversified stock funds were up an average 1.82%.
Telecom funds led sector portfolios. They rose 1.77% as fund managers continued to snap up bargains.
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