Trillions may have evaporated from China’s equity market but no-load mutual funds investing in the region still outperformed their peers in the second quarter.
According to Zack’s, seven of the 15 best performers in the no-load mutual fund sector were all focused on China, with the top five populated exclusively by members of the group.
Coming in third on the list was the AllianzGI China Equity D fund, which raked in 12.45% during the second quarter and 17.92% year to date, while in second place was Matthews Asia’s Matthews China Small Companies fund, which had a total return of 14.27% for the second quarter and 16.5% year to date. Towering above them all meanwhile was Matthews’ Matthews China Dividend fund, which nearly posted a 14.7% return in the second quarter while jumping 22.7% since the beginning of year.
Interestingly, the only non-China, Pacific-category fund that made the list was the Hennessy Japan Small Cap Fund Inv, which came in ninth after soaring over 10% in the second quarter. It’s year to date returns punch in at 15.64%.
As for the absolute best gainer during the second quarter, here’s what Zack’s had to say:
The top gainer in the second quarter was ProFunds UltraChina Inv (UGPIX – MF report), a no-load fund. UGPIX jumped 15.9% in the second quarter. However, toward the end of the second quarter the Chinese Stock market crashed and the continued fall has resulted in UGPIX falling close to 20% since July 1st. While the 20% loss in less than one month is a cause for concern, it is worth noting that UGPIX was up 100% over the last three years before the 20% drop.
Photo: Khun Hans