
By Ross Kerber
NEW YORK - At the midyear mark, even some of the best-performing mutual funds of 2009 are still working on comebacks from dismal losses last year, underscoring lingering uncertainty in markets and in the funds industry.
Equity funds that invest in China and Latin America boast some of the biggest gains this year, according to fund-tracker Lipper Inc, a Thomson Reuters company, as well as some high-yield bond funds. Big losers include financial services sector funds and bond funds that invest in U.S. treasuries.
Latin American funds rose the most, 45.8 percent versus a decline of 57.3 percent last year, while funds investing in Asian countries aside from Japan rose 35.8 percent, compared with a loss of 49.8 percent last year.
Yet many of top funds are only making up for losses suffered in the brutal bear market of 2008.
It is still believed that dramatic gains or losses for markets or for many funds are not expected for the next few months, only toward the end of the year will it become clear how strong the recovery will become.
http://www.reuters.com/article/newsOne/idUSTRE5616ID20090703


