The University Record, September 10, 1997

Investment Update

Average Annual Total Returns as of June 30, 1997

Equity Funds

1 Year

3 Years

5 Years

10 Years

Standard & Poor's 500 Stock Index

34.7%

28.9%

19.8%

14.6%

Fidelity Low-Priced Stock

27.5

23.2

21.1

N.A

Fidelity OTC Portfolio

19.6

24.9

17.8

15.0

Lipper Capital Appreciation Funds Average

14.4

20.5

16.4

11.9

Calvert Social Investment Equity Portfolio*

25.4

16.7

11.1

N.A

C.R.E.F. Equity Index Account

30.4

26.7

N.A

N.A

C.R.E.F. Growth Account

32.0

28.6

N.A

N.A

C.R.E.F. Social Choice Account

24.3

20.1

15.2

N.A

C.R.E.F. Stock Account

27.4

23.2

17.5

12.9

Fidelity Blue Chip Growth

28.6

23.2

21.4

N.A

Fidelity Capital Appreciation

26.7

19.0

17.2

13.4

Fidelity Contrafund

24.3

24.3

20.1

18.4

Fidelity Disciplined Equity

25.9

22.2

17.3

N.A

Fidelity

28.0

25.3

19.4

13.8

Fidelity Growth Company

19.1

24.5

19.8

16.8

Fidelity Growth & Income

29.8

26.1

20.5

16.6

Fidelity Magellan

25.9

22.8

18.3

15.3

Fidelity Retirement Growth

16.9

16.4

16.0

12.8

Fidelity Trend

17.9

16.6

15.3

12.0

Fidelity U.S. Equity Index

34.3

28.5

19.5

N.A

Lipper Growth Funds Average

24.0

23.1

17.3

13.1

Fidelity Convertible Securities

14.2

15.6

14.0

13.9

Fidelity Equity-Income

30.4

23.9

19.8

13.6

Fidelity Equity Income II

26.7

20.9

18.6

N.A

Fidelity Value

24.5

21.3

20.2

14.2

Lipper Growth & Income Funds Average

28.1

23.6

17.4

12.8

C.R.E.F. Global Equities

24.5

18.3

17.5

N.A

Fidelity Canada

16.7

12.4

9.7

N.A

Fidelity Emerging Markets

-6.2

2.0

8.3

N.A

Fidelity Europe

26.6

21.8

15.4

10.1

Fidelity International Growth & Income

18.1

11.2

11.1

8.0

Fidelity Japan

-1.3

-3.1

N.A

N.A

Fidelity Overseas

22.4

12.2

11.4

7.5

Fidelity Pacific Basin

2.1

-0.9

9.5

3.4

Fidelity World-Wide

22.3

13.4

15.2

N.A

MSCI EAFE (International) Index

12.8

9.1

12.8

6.6

MSCI Emerging Markets Free Index

12.8

7.0

14.8

N.A

Bond Funds

1 Year

3 Years

5 Years

10 Years

Lehman Bros. Govt/Corporate Bond Index

7.8%

8.3%

7.2%

8.7%

Salomon Brothers High-Grade Index

9.3

10.3

8.5

10.0

Calvert Income*

8.1

8.3

6.9

8.7

Calvert Social Investment Bond*

7.6

7.4

6.7

N.A

C.R.E.F. Bond Market

8.0

8.1

7.0

N.A

Fidelity Investment Grade Bond

7.6

7.1

7.2

8.6

Fidelity Ginnie Mae

8.6

8.7

6.4

8.2

Fidelity Global Bond

2.8

2.7

2.2

N.A

Fidelity Capital & Income

12.8

10.3

11.8

10.7

Fidelity Intermediate Bond

6.8

6.7

6.5

7.8

Fidelity Mortgage Securities

8.8

9.2

7.2

8.6

Fidelity Short-Term Bond

6.3

5.4

4.9

6.8

Fidelity U.S. Bond Index

8.0

8.3

7.2

N.A

TIAA Premium Growth Rate

7.2

N.A

7.3

8.1

Money Market Funds

1 Year

3 Years

5 Years

10 Years

91-Day Treasury Bills

5.3

5.4

4.6

5.7

Calvert First Government Money Market*

4.7

4.9

4.8

4.0

Calvert Social Investment Money Market*

6.1

5.3

4.2

5.5

C.R.E.F. Money Market

5.4

5.4

4.5

N.A

Fidelity Cash Reserves

5.2

5.3

4.4

5.7

Fidelity Retirement Government Money Mkt

5.3

5.3

4.4

N.A

Fidelity U.S. Government Reserves

5.1

5.1

4.8

5.8

Retirement Money Market

5.3

5.4

4.5

N.A

Balanced Funds

1 Year

3 Years

5 Years

10 Years

Calvert Social Invest Managed Growth*

18.4

14.6

10.6

9.0

Fidelity Asset Manager

20.3

13.9

12.7

N.A

Fidelity Asset Manager: Growth

25.5

16.8

16.2

N.A

To assist faculty and staff in making choices among the many retirement investment options, the Record publishes this table several times a year. Faculty and staff should contact the companies directly for fund information and prospectuses: TIAA-CREF, 1-800-842-2776; Fidelity, 1-800-368-2745.

Information on fund transfers is available from the Benefits Office, 763-1214 (central campus) or 764-6584 (medical campus), or the three companies.