Lipper held a third quarter mutual fund review and outlook session last week, in which equity and fixed income mutual fund performance and the debate over actively managed versus index funds was on the agenda. Highlights of the report were domestic equity funds delivering a 4.65% return in spite of natural disasters and rising oil prices, growth beating value, mid-cap and small-cap funds beating large- and multi-cap, and international funds continuing their strong run.

Sector equity funds posted gains of 6.82% in the third quarter, while world equity funds rose 11.48%. Particularly strong performers were Latin American funds, up 29.3%, and Japanese funds, up 18.32%.

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