AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Byline: PAUL KATZEFF
July was hot, hot, hot. So were natural resources funds, which led all sectors last month. And despite the ongoing rise in energy prices, which fueled much of resources' climb, the rest of the market advanced too, with strong showings from telecommunication and real estate funds.
Natural resource funds averaged an 8.28% surge, according to Lipper. Telecom soared 6.66%. Real estate funds gained 6.64%.
Gold-oriented funds were the only sector to lose ground. They gave back 1.44%.
The strong showing by resources was due to solid fundamentals, says Brian Hicks, co-manager of $540 million U.S. Global Investors Global Resources Fund.