Another good month for funds

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Fund Source says that managed funds are continuing to claw back some of the losses recorded over the past couple of years.

Sunday, September 21st 2003, 11:10PM

Managed funds have overall had another good month of positive returns on the back of rising markets.

The latest figures from Fund Source show that gains are being made across all sectors.

"It has been a very positive period for managed fund investors in recent times, with equity investments in particular recording very strong returns," Fund Source's Tim Anderson says.

Key points:

• Fifth straight month of positive returns for managed funds
• International equity funds now up on average 15.83% for the six month period
• Diversified balanced funds up 7.44% for the six month period
• NZ Equity funds up 11.22% for the six months and 7.17% for the year
• Conversely international fixed interest funds up 0.56% for the six months
• New Zealand fixed interest funds up 1.11% for the six months.

Further analysis of the numbers will follow later this week.

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