RI equity funds outperform overseas funds: Lipper

RI equity funds outperform overseas funds: Lipper

NEW YORK (Dow Jones): Pacific rim mutual funds outperformed other world equity funds last week, briefly turning around a year of double-digit losses.

Indonesian equity funds took eight of the top 10 positions for the week ending Oct. 9, according to Lipper Analytical's Overseas Fund Table.

Fidelity Funds-Indonesia, managed by Yosawadee Charnsethikul in Fidelity Investment's Hong Kong office, returned 30.14 percent for the week. It was followed by Barclays Asian Selection Funds Ltd.-Indonesia fund with a gain of 27.97 percent.

Indonesian funds as a sector have registered a 52-week loss of 70.86 percent, according to Lipper, with South Korea funds taking the second largest hit for the year with losses of 47.93 percent.

Portfolios investing in other areas in Asia performed well this week, with Singapore up at 7.43 percent, Thailand gaining 7.01 percent gain and Japan increasing 6.06 percent.

Mutual funds investing in Scandinavia performed poorly for the week, with Norwegian funds losing 10.82 percent and Swedish funds falling 8.83 percent. Regional Scandinavian funds lost 6.15 percent for the week.