Investing December 12, 2001
Internet Funds' Recovery Extends in November
December 12, 2001 (PLANSPONSOR.com) - Internet funds
kept up their recovery from the effects of the September 11
attacks in November, with an average monthly gain of 14.8%.
By comparison, the Nasdaq composite had a 14.2% hike for the
period.
Reported by Fred Schneyer
Standard & Poor’s reported that funds tied to an Internet index walked off with much of the month’s gains.
Performing particularly well were funds using leverage: Potomac Internet Plus Fund climbed 27.1% while ProFunds Internet UltraSector Fund skyrocketed 41.3%.
Investec Internet.com Index Fund also performed well in November. The fund, which tracks Internet.com’s Internet Stock Index, rose 24.2%.
Even as Internet funds have started to perk up from their lows, however, the sector is far from being out of the financial woods, S&P said. Through November, Internet funds are down 39.8% from January 2001.