Continuing a trend begun in the second half of the year, world equity funds beat out all other specialty equity sectors as the best-performing funds of 2005, Forbes reports.

Through Dec. 15, world equity funds are up 16% for the year, more than twice the S&P 500. Among world equity funds, Latin American funds are the best-performing category, rising 53% for the year. Next up are Japan funds, which have delivered a performance of 27% for the year.

The second-best performing categories for the year are sector equity funds, up 12%, and diversified equity, up 8%. Among sector equity funds, the best-performing category has been natural resources funds, which have delivered returns of 45%.

Specific standout funds that Forbes mentions include the T. Rowe Price Latin American Fund (+60%), ProFunds Ultra Japan (+67%) and the Guiness Atkinson Global Energy Fund (+68%).

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