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by Karl C. Mergenthaler, CFA, William Pometto and Kinal Patel
karl.c.mergenthaler@jpmorgan.com, william.x.pometto@jpmorgan.com, kinal.patel@jpmorgan.com
AS OF SEPTEMBER 2012
| Index |
Monthly Return |
Trailing 3 Months |
Year to Date |
1
Year |
2
Year |
3
Year |
5
Year |
10
Year |
| Russell 3000 (Gross) |
2.63 |
6.23 |
16.13 |
30.20 |
14.42 |
13.26 |
1.30 |
8.49 |
| MSCI EAFE (Net) |
2.96 |
6.92 |
10.08 |
13.75 |
1.54 |
2.12 |
(5.24) |
8.20 |
| MSCI Emerging Markets (Net) |
6.03 |
7.74 |
11.98 |
16.93 |
(0.98) |
5.63 |
(1.28) |
17.00 |
| Barclays U.S. Aggregate Bond Index |
0.14 |
1.58 |
3.99 |
5.16 |
5.21 |
6.19 |
6.53 |
5.32 |
| Merrill High Yield Index |
1.40 |
4.58 |
11.91 |
18.82 |
9.74 |
12.57 |
9.00 |
10.58 |
| J.P. Morgan GBI Emerging Markets Bond Index |
3.30 |
5.95 |
15.62 |
15.44 |
3.85 |
8.09 |
4.55 |
10.20 |
| NAREIT Index |
(1.23) |
1.03 |
16.09 |
33.81 |
16.21 |
20.73 |
2.28 |
11.49 |
| Goldman Sachs Commodity Index (Gross) |
(1.42) |
11.54 |
3.47 |
12.74 |
7.69 |
6.52 |
(5.45) |
3.36 |
View larger image
U.S. EQUITY
- U.S. equities have performed well this year despite macroeconomic
concerns. The Russell 3000 Index was up 16.1% for
the year through September.
- The Russell 3000 Index was up 30.2% over the past year, with
value stocks slightly outperforming growth stocks in that time
frame.
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FIXED INCOME
- The Barclays U.S. Aggregate Index generated a return of 4%
on a year-to-date basis, and consistent mid-single digit returns
over the past several years.
- The Merrill High Yield Index had a 4.6% return for the third
quarter and was up 18.8% over the prior year.
- The J.P. Morgan Government Bond Index-Emerging Markets
gained 6% in the third quarter after showing losses in the
second quarter. This emerging market debt index generated
annual returns of 10.2% over the past 10 years.
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INTERNATIONAL EQUITY
- The MSCI EAFE Index posted a 10.1% return for the year through
September, despite the on-going European Sovereign debt
crisis.
- The MSCI Emerging Market Index rose 12% on a year-to-date
basis. Emerging market stocks have delivered impressive longterm
performance, with 17% annual returns over the past 10
years.
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REAL ESTATE AND OTHER
- The NAREIT Index had a return of 33.8% over last year showing
a substantial gain.
- The S&P GSCI was up 11.5% in the third quarter, although this
index has generated a 5.5% loss in the five years through
September.
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