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April 9, 2024

Large-Cap and Growth-Oriented Funds Underpin Another Strong Quarter for Equities

by Jack Fischer.

 

CEO of Reddit Steve Huffman and others watch the opening bell, at the New York Stock Exchange (NYSE) in New York City, U.S., March 21, 2024.

Equity mutual funds and ETFs celebrated their fifth quarterly gain in six—with the average equity fund (+6.92%) posting its second straight quarterly plus-side return. LSEG Lipper’s U.S. Diversified Equity Funds (+9.07%) outpaced the other seven equity and mixed-assets macro-classifications for the first quarter since Q2 2023.

Q1 2024 had actively managed equity funds (+7.09%) outperform their passive (+5.95%) counterparts by 114 basis points (bps), marking the fourth largest quarterly outperformance by active management since the start of 2013.

In this segment, I provide a market recap plus highlight the quarterly and monthly performance results for conventional equity mutual funds and ETFs.

Summary:

  • Macro-classification rankings: U.S. Diversified Equity Funds (+9.07%), Sector Equity Funds (+5.99%), Mixed-Assets Funds (+5.25%), World Equity Funds (+5.12%), World Sector Equity  Funds (+2.87%), Commodities Funds (+2.78%), and Alternative Equity Funds (+$2.76).
  • Equity Leverage Funds (+14.62%) posted the strongest return in the equity universe for Q1, marking the second straight quarter as the leader.
  • In total, 92.89% of all individual equity and mixed-assetsfunds posted plus-side returns for the quarter, down from Q4 2023 (96.10%).
  • For second straight quarter, 95 of Lipper’s 104 equity and mixed-assets fund classifications posted positive returns.

Click here or the Download Full Report link in the upper right-hand column of this page to download the First Quarter 2024 Equity FundMarket Insight Report: Large-Cap and Growth-Oriented Funds Underpin Another Strong Quarter for Equities.

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