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by Karl C. Mergenthaler, CFA, William Pometto and Jessica Lin
karl.c.mergenthaler@jpmorgan.com, william.x.pometto@jpmorgan.com, jessica.c.lin@jpmorgan.com
AS OF MARCH 2012
U.S. EQUITY
- U.S. equities began the year with a solid performance. The Russell 3000 index generated a 12.87% return in the first quarter.
- The Russell 3000 was up 7.18% for the past year, and 4.67% over the most recent 10 year period.
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FIXED INCOME
- The Barclays U.S. Aggregate index produced an overall return of 7.71% for the past year.
- The Merrill High Yield index generated a return of 5.05% year
to date.
- The J.P. Morgan GBI Emerging Market Bond Index posted a 1.08% return for 1 year while 3, 5, and 10 year returns remain positive.
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INTERNATIONAL EQUITY
- The MSCI EAFE Index experienced a 5.77% decline since the first quarter of 2011 attributable to the ongoing stress posed by the European sovereign debt crisis, but posted a 10.86% return in the first quarter.
- The MSCI Emerging Market Index experienced a decline of 8.80% for the past year, while continuing to produce impressive 3, 5, and 10 year returns through March 2012.
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REAL ESTATE AND OTHER
- The NAREIT index over 12 months returned 11.29%, outperforming the broader U.S. equity market and overcoming the macroeconomic turmoil.
- The Goldman Sachs Commodities Index was up 5.88% for the first quarter but was still down 6.21% for the past year.
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