The University Record, July 19, 1999

Investment Funds Update

Editor's Note: To help faculty and staff make 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, (800) 842-2776; Fidelity, (800) 343-0860.

Information on fund transfers is available form the Benefits Office, 763-1214 (Central Campus), 764-6584 (Medical Campus), as well as TIAA-CREF and Fidelity.


University of Michigan Investment Funds Update

Average Annual Total Returns as of March 31, 1999

Equity Funds

1 Year

3 Years

5 Years

10 Years
Standard & Poor's 500 Stock Index

18.5%

28.1%

26.3%

19.0%
Fidelity Low-Priced Stock

-14.6

12.3

14.4

N.A
Fidelity OTC Portfolio

30.0

26.5

23.7

19.4
Lipper Capital Appreciation Funds Average

11.8

16.7

18.3
15.1
C.R.E.F. Equity Index Account

13.6

24.8

N.A

N.A
C.R.E.F. Growth Account

21.3

28.2

N.A

N.A
C.R.E.F. Stock Account

11.3

21.8

20.7

16.1
Fidelity Blue Chip Growth

25.0

27.1

23.9

23.1
Fidelity Capital Appreciation

12.3

20.1

17.3

14.1
Fidelity Contrafund

23.9

25.4

23.4

23.4
Fidelity Disciplined Equity

12.5

23.8

21.5

18.6
Fidelity Dividend Growth

22.8

29.8

28.8

N.A
Fidelity

22.6

27.5

25.1

18.6
Fidelity Growth Company

23.0

22.2

22.1

20.6
Fidelity Growth & Income

16.1

24.7

23.8

19.5
Fidelity Magellan

25.6

25.8

22.6

19.7
Fidelity Retirement Growth

22.8

22.0

19.1

17.3
Fidelity Spartan U.S. Equity Index

18.3

27.8

26.0

18.7
Fidelity Trend

-4.1

10.6

11.6

12.3

Lipper Growth Funds Average

13.6

22.3

20.9

16.8
Fidelity Convertible Securities

4.9

14.7

14.2

15.5
Fidelity Equity-Income

3.4

19.5

19.9

15.1
Fidelity Equity Income II

12.3

21.3

20.3

N.A
Fidelity Value

-12.2

9.4

13.6

13.7

Lipper Growth & Income Funds Average

5.5

19.7

19.8

15.2

C.R.E.F. Global Equities

6.5

17.6

16.1

N.A
Fidelity Canada

-18.9

1.0

3.2

6.2
Fidelity Emerging Markets

-24.5

-21.8

-13.4

N.A
Fidelity Europe

-1.0

19.5

17.7

13.4
Fidelity International Growth & Income

1.1

10.4

8.8

9.0
Fidelity Japan

30.7

0.7

0.1

N.A
Fidelity Overseas

1.8

12.0

9.5

8.7
Fidelity Pacific Basin

21.7

-0.5

-0.9

2.2
Fidelity World-Wide

-6.2

10.9

9.4

N.A

MSCI EAFE (International) Index

6.1

8.5

8.8

5.7
MSCI Emerging Markets Free Index

-21.0

-9.5

-5.3

10.5

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Bond Funds

1 Year

3 Years

5 Years

10 Years

Lehman Bros. Govt/
Corporate Bond Index

6.6%

7.8%

7.7%

9.1%

C.R.E.F. Bond Market

6.0

7.5

7.3

N.A
Fidelity Capital & Income

4.9

12.0

9.9

11.8
Fidelity Ginnie Mae

5.7

7.0

7.4

8.4
Fidelity Intermediate Bond

6.1

6.6

6.4

7.9
Fidelity Investment Grade Bond

5.7

7.1

6.7

8.8
Fidelity Mortgage Securities

5.4

7.2

8.1

8.8
Fidelity Short-Term Bond

5.7

6.0

5.1

6.8
Fidelity U.S. Bond Index

6.7

9.1

8.5

N.A
TIAA Premium Growth Rate

6.8

N.A

6.8

8.0

Money Market Funds

1 Year

3 Years

5 Years

10 Years
91-Day Treasury Bills

4.8%

5.2%

5.2%

5.4%

C.R.E.F. Money Market

5.3

5.4

5.6

5.7
Fidelity Cash Reserves

5.2

5.2

5.2

5.4
Fidelity Retirement Government Money Market

9.3

6.6

6.0

5.8
Fidelity Retirement Money Market

9.5

6.7

6.1

5.9
Fidelity U.S. Government Reserves

5.1

5.9

6.1

5.7

Balanced Funds

1 Year

3 Years

5 Years

10 Years
C.R.E.F. Social Choice Account

12.4%

19.5%

18.4%

N.A
Fidelity Asset Manager

9.8

17.0

13.6

13.8
Fidelity Asset Manager: Growth

12.1

20.9

16.2

N.A
Fidelity Asset Manager: Income

8.1

10.6

9.8

N.A
Fidelity Balanced

16.1

20.2

13.9

13.2
Fidelity Puritan

9.4

16.8

15.7

14.3

Fidelity Real Estate Investment Portfolio

20.5%

8.4%

7.7%

10.9%
Fidelity Strategic Opportunities

-16.1

9.1

11.3

12.1

Fidelity Select Funds:

Air Transportation

4.3

12.4

16.5

13.1
Automotive

-15.6

7.7

6.5

12.2
Biotechnology

28.2

18.6

19.4

21.3
Brokerage & Investment Mgt.

7.1

35.0

26.9

21.5
Chemicals

-23.8

1.2

9.4

11.4
Computers

91.4

44.9

37.3

30.3
Construction and Housing

-8.0

15.8

12.7

14.3
Consumer Industries

15.5

24.2

21.3

N.A
Defense & Aerospace

-11.7

13.6

19.1

14.5
Developing Communications

82.0

34.9

29.3

N.A
Electronics

44.9

35.9

35.9

30.3
Energy

-9.8

8.7

11.7

9.1
Energy Service

-35.4

8.1

17.1

10.8
Environmental Services

-27.8

-1.2

4.0

N.A
Financial Services

6.4

28.5

26.8

21.5
Food & Agriculture

0.3

14.1

18.4

17.4
Gold1

-20.7

-20.8

-9.9

-0.9
Health Care

24.5

28.3

33.0

25.4
Home Finance

-22.6

16.4

21.5

22.1
Industrial Equipment

-4.3

14.8

16.8

15.6
Industrial Materials

-20.7

-1.6

4.7

7.5
Insurance

7.9

28.3

25.5

19.3
Leisure

38.6

33.8

26.4

19.6
Medical Delivery-

34.9

-3.2

9.1

14.8
Money Market

1.3

3.8

4.2

4.7
Multimedia

32.2

24.9

24.2

18.3
Paper & Forest Products

-14.0

2.1

9.4

9.4
Precious Metals & Minerals

-16.3

-23.9

-10.7

-1.7
Regional Banks

-2.5

25.1

25.5

22.2
Retailing

30.0

33.2

23.7

22.2
Software & Computer Services

28.0

30.8

28.4

25.4
Technology

75.5

38.9

32.2

27.9
Telecommunications

20.5

27.7

23.8

19.8
Transportation

0.2

14.4

13.5

15.5
Utilities Growth

27.2

30.2

23.4

18.2
1 Formerly Fidelity Select American Gold