US mutual funds finished higher than predicted in the third quarter, posting a 4.6% average return, Standard & Poor reports.
The research company found that all fund categories ended with positive ratings, mid-cap growth funds gaining the most with 6.1% returns for the quarter, while large-cap value portfolios made the slightest climb, rising 3.6%.
Growth-oriented funds outperformed value funds over the past three months. The average growth fund advanced 5.6% for the three months ending September 30, versus a 4.5% gain for the average value fund. But value funds are still on top so far this year, gaining 5.4% versus a gain of 4.5% for the average growth fund.
Mid-cap blend funds show the strongest YTD return, with a 6.8% rise.