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by Karl C. Mergenthaler, CFA, William Pometto and Diana Jiang
karl.c.mergenthaler@jpmorgan.com, william.x.pometto@jpmorgan.com, diana.a.jiang@jpmorgan.com
AS OF JULY 2011
| Index |
Monthly Return |
Trailing 3 Months |
Year to Date |
Fiscal Year to Date |
1 Year |
2 Year |
3 Year |
5 Year |
10 Year |
| BARCLAYS U.S. AGGREGATE BOND INDEX |
1.59 |
2.61 |
4.35 |
4.35 |
4.44 |
6.65 |
7.05 |
6.57 |
5.69 |
| MSCI EMERGING MARKETS FREE GROSS |
(0.38) |
(4.40) |
0.65 |
0.65 |
17.79 |
19.01 |
5.72 |
11.34 |
17.26 |
| MSCI-Eafe (Net) |
(1.59) |
(5.69) |
3.31 |
3.31 |
17.17 |
11.58 |
(1.23) |
0.95 |
5.69 |
| MERRILL HIGH YIELD INDEX |
1..22 |
0.73 |
6.18 |
6.18 |
12.81 |
18.26 |
13.34 |
9.11 |
8.65 |
| RUSS-RUSSELL 1000 GROWTH (GROSS) |
(1.00) |
(3.48) |
5.76 |
5.76 |
24.76 |
19.07 |
5.33 |
5.52 |
2.40 |
| RUSS-RUSSELL 2000 VALUE (GROSS) |
(3.31) |
(7.37) |
0.34 |
0.34 |
18.55 |
19.33 |
4.15 |
1.84 |
7.41 |
| RUSS-RUSSELL 3000 (GROSS) |
(2.29) |
(5.14) |
3.92 |
3.92 |
20.94 |
17.84 |
3.48 |
2.89 |
3.37 |
| S&P 500 - CAP. WEIGHTED |
(2.03) |
(4.76) |
3.87 |
3.87 |
19.65 |
16.71 |
2.92 |
2.40 |
1.07 |
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U.S. EQUITY
- U.S. equities saw a decrease of 2.0% in the S&P 500 index for the
month of July, as the U.S. government’s inability to adequately
address the debt situation lowered investor confidence.
- The Russell 1000 Growth Index was down 1% in July. Growth
stocks have out-performed value stocks on a year-to-date basis.
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FIXED INCOME
- The Barclays Aggregate Index was the best performer of the month, gaining 1.3% in July. Interest rates remained low amid concerns about U.S. economic growth.
- High Yield increased by 1.2%.
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INTERNATIONAL EQUITY
- The MSCI EAFE Index was down 1.59% in July, with renewed concerns about debt burdens and resulting austerity measures in Italy and Spain, among other European countries.
- With countries like China and Brazil increasing interest rates to tame inflation, the MSCI Emerging Markets Index dipped 0.36% in July. Emerging market equities have generated double-digit returns for the trailing 5-year and 10-year periods.
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REAL ESTATE AND OTHER
- The NAREIT index was up 1.05% in July and 11.79% year-to-date.
- U.S. GDP growth for the second quarter was lower than expected, with the nation’s output increasing at an annual rate of 1.3%. The unemployment rate slipped to 9.1% from 9.2% in June, mainly because some people have stopped looking for work. Rising oil prices and the effects of the disaster in Japan continue to hinder United States growth and hiring.
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