Equity funds lead the way for the year

Mixed asset and money market funds among top globally

Gulf News

Solid performance in UAE’s stock markets produced strong gains for regionally domiciled equity funds during the first seven months of the year. This also reflected positively on mixed assets funds that have heavy allocations to equities, according to data released by Lipper, a unit of Thomson Reuters that tracks mutual funds performance.

Majority of the region’s fixed income funds—as was the case with global onesc underperformed between January and July after they suffered in the months of May and June in the aftermath of the US Federal Reserve’s sudden announcement of monetary tightening to start later this year. Against the US Federal Reserve’s close to zero interest rate, regional money market funds have been among the best globally.