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Gold Funds Soared, But Real Estate Only Other Sector Up.(A)

Investor's Business Daily

| January 03, 2003 | 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

Tech was tops during the market run-up of the late 1990s. But in 2002, gold was king.

Funds focused on the metal soared an average of 62.22% for the year through Dec. 26, says Lipper Inc.

They gained almost 13% in the fourth quarter.

They had more than adequate competition in that quarter. Telecom funds soared more than 27%. Sci-tech funds raced ahead nearly 21%.

Still, tech and telecom did most of their best work in October and November. Gold gained almost 23% in December alone. Sci tech fell more than 11%. Telecom shrank 7.6%.

For the year, tech funds fell harder than any sector. They lost nearly 42%. Close behind, telecom funds fell more than 40%.

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