U.S. and foreign equity mutual funds hit 10-year records in the second quarter, with domestic equity funds rising 17.05% and international equity funds rising 26.66%, according to Lipper. For both, it’s the best performance since the fourth quarter of 1999, when U.S. equity funds surged 19.47% and world equity funds delivered 27.42%.
The best-performing U.S. style category was small-cap value funds, which rose 23.37%, and the No. 1 sector was international real estate, up 33.89%. Among international funds, Latin America beat out all others, soaring 44%, followed by China, up 37%.