Wall Street Journal (05/15/08) P. D3; Maxey, Daisy
After having lost more than 14 percent on average in 2007, the average mutual fund specializing in real estate is up nearly 5.6 percent this year through May 12. Morningstar Inc. reports that it currently ranks as 2008's second-best performing U.S. stock fund group, trailing only the natural-resources funds category. Tom Roseen, senior analyst at Lipper Inc., adds that first-quarter earnings for about 50 percent of REIT stocks exceeded expectations. Such success has helped put many fund investors' minds at ease. After pulling $6.4 billion out of real-estate funds in the past nine months of 2007, Financial Research Corp. reports that investors poured $1.9 billion into them during the first three months of this year.
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