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Byline: Claire Mencke
Most stock funds ground out negative returns in August as they continued to hit the wall of recession worries.
Meanwhile, bond funds got another tailwind from the Federal Reserve's seventh rate cut this year and the prospect of more cuts to come. Returns on all bond categories were positive in the latest month, according to Lipper Inc. data.
Just three stock fund categories returned positive results in August. Gold funds were up 5.49% on average for the month through Tuesday after a dip in July. Real estate funds rose 4.76% after a brief pullback the month before. Health/biotech funds rallied 0.04%.
Among widely diversified stock funds, value funds led. Still, they shed 0.44% on average for the month through Tuesday.
These funds are still enjoying their cyclical …