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Some Springtime Lift for Funds

By Amey Stone

Cheering in the streets of Baghdad in early April didn't trigger the immediate sharp stock market rally that many pros expected. But as investors gained confidence that the end of armed conflict with Iraq would boost the economy and as first-quarter corporate earnings started coming in better than expected, the market marched steadily higher in April. For the month, the average diversified equity fund climbed a healthy 7.7% and the S&P 500 jumped an even higher 8.2% (see BW Online, Interactive Mutual Fund Scoreboard).

Thanks to some cooling of the overheated geopolitical climate, a mixture of international funds turned in the month's strongest results. Foreign funds gai

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