Investment Funds Update

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

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

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