According to Lipper, the average diversified stock fund jumped by almost 6% in November, about the same as in October’s performance, (See “Up” is Down and Down Up in October Fund Performance ) Reuters reported.
In a particularly notable turnaround, science and technology funds as well as telecommunications funds enjoyed a bountiful November, according to Lipper.
The average science & technology fund was up nearly 17% in November and the average telecommunication fund climbed by about 14%, topping the list of 35 stock fund categories in the Lipper data. Nevertheless, even after the back-to-back monthly gains, science and technology funds were down about 34% year-to-date and telecommunication funds were down nearly 36%.
Among the diversified fund categories the best performance last month came in small-cap growth funds, with the average fund up 7.7%, narrowly edging out the mid-cap value category, which was up by a similar amount.
Large cap value funds were up 6.3% for the month, while large cap growth funds were up 4.3%. On a year-to-date basis, the large value funds were also outperforming the large growth category, with the former down 15.8% and the latter down 23.3%.
Of Lipper’s 35 stock fund classifications, only specialty diversified equity funds were down in November. The category includes funds that bet on a declining market.