With that said, investors should be cautioned that this is an asset allocation fund, which means it has a вЂњgo anywhereвЂќ management style and performance can be inconsistent. VAGFXвЂ™s assets under management are only $22 million, which is tiny in the world of mutual funds, but also an advantage when trying to quickly navigate the complexities of todayвЂ™s stock market.

Top performers among domestic stock funds, which includes all market caps, are Valley Forge Fund, a large value fund, with a return of 18.8%, and Hennessy Cornerstone, a midcap blend fund, putting in 15.2% through June 30.Д¬ontributors to the Valley Forge FundвЂ™s performance include top holdings in financial stocks such as American International Group ( AIG), and technology sector holdings with outstanding 2014 performance such as Apple ( AAPL). equity, international stock, sector and bond funds. These still are the days of ideal market conditions.Д«esides, if you do think the market is boring now, be thankful - exciting does not by default translate into positive in the investment universe.ДЄll that said, if you do enjoy something more exciting than what the market has returned so far, hereвЂ™s our look at a few outliers - namely, some of the best mutual funds through six months, broken out into U.S. The top performing mutual funds of 2014 through June 30 include a few surprises, as well as some clues about where the market might be heading in the second half of the year.ДЇor reference - and what might be considered our first surprise in light of the cautious investor sentiment pervading the market at mid-year - the S&P 500 Index has climbed an impressive 7.1%.ДЄlthough investors might yawn about such gains in comparison to the 25%-plus returns in the past few years, if we project this return forward, it adds up to an annualized 14.2% return for 2014.

Best performing mutual funds for 2014