U.S.- registered global stock funds have been getting assistance from a weak dollar as it boosts foreign holdings in portfolios, Reuters reports.
The funds have been up 16.2% over the last three months ended July 10, according to data research firm Lipper of New York. The average diversified U.S. stock was up 17.6% during the same time period.
Some fund managers indicated that the increases were due to the global markets reacting positively to what seems to be the end of major conflict in Iraq, as well as corporate takeovers. Managers are asserting that some of their best funds for the recent quarter were also the worst performers in the first quarter. Meanwhile others took it in stride, saying the positive numbers reflect "the degree of fear that gripped equity investors worldwide during March, 2003."