Bond mutual funds that invest in Treasuries led the pack in the third quarter as investors sought a safe haven from financial turmoil. But the direction of the economy and interest rates, not the current crisis, will determine if they're still worth buying.
Seven of the 10 best-performing bond mutual funds were long- and intermediate-term Treasury funds last quarter. The remaining three in the accompanying table are, technically, government bond funds. But the RidgeWorth U.S. Government Securities Fund(SCUSX Quote) and the SunAmerica U.S. Government Securities Fund(SGTAX Quote) are heavily weighted in Treasury notes and bonds. In addition, some top holdings of the California Investment Trust-U.S. Government Securities Fund(CAUSX Quote) are Treasury bonds.
Leveraged, "inverse" and institutional bond funds were not included in the tabulations of the adjoining top-ten bond fund list. ...
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