After an absence of several months, real estate funds moved back into August's penthouse. With a 4.46% gain on average, they reclaimed the top spot among sectors, according to Lipper.It was their first top finish since January. It ended a three-month skid in last place.
Among all sectors, real estate was hurt the least by latest fallout from the subprime lending meltdown and credit crunch. It had already had a meltdown of its own, having skidded 11.21% the past three months to be down 7.48% for the year. That's the worst among sectors.
Investors figured out that most real estate funds' holdings weren't hurt in August by the residential mortgage-oriented crisis, said Richard Imperiale, manager of the $51million Forward Progressive Real Estate Fund FFREX.
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