The University Record, March 22, 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 from 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 December 31, 1998
Average Annualized Compound Return
Equity Funds1 Yr3 Yrs5 Yrs10 Yrs
Standard & Poor's 500 Stock Index28.6%28.2%24.1%19.2%
Fidelity Low-Priced Stock0.517.416.2N.A
Fidelity OTC Portfolio40.424.120.819.5
Lipper Capital Appreciation Funds Average20.117.516.215.4
C.R.E.F. Equity Index Account24.125.6N.AN.A
C.R.E.F. Growth Account32.928.9N.AN.A
C.R.E.F. Stock Account22.922.919.416.5
Fidelity Blue Chip Growth34.725.522.723.2
Fidelity Capital Appreciation17.019.415.714.3
Fidelity Contrafund31.525.421.624.0
Fidelity Disciplined Equity21.823.220.019.4
Fidelity Dividend Growth35.931.326.5N.A
Fidelity31.027.523.118.6
Fidelity Growth Company27.220.919.320.7
Fidelity Growth & Income28.326.122.620.3
Fidelity Magellan33.623.620.519.9
Fidelity Retirement Growth35.920.416.817.5
Fidelity Trend2.89.38.312.5
Fidelity Spartan U.S. Equity Index28.528.023.818.9
Lipper Growth Funds Average22.922.719.017.2
Fidelity Convertible Securities16.315.3 12.415.9
Fidelity Equity-Income12.521.018.515.7
Fidelity Equity Income II23.022.919.3N.A
Fidelity Value0.212.314.214.6
Lipper Growth & Income Funds Average15.621.418.515.8
C.R.E.F. Global Equities18.618.314.6N.A
Fidelity Canada-14.91.51.96.6
Fidelity Emerging Markets-26.6-21.8-17.6N.A
Fidelity Europe20.823.118.714.4
Fidelity International Growth & Income10.09.9 7.78.9
Fidelity Japan13.1-3.60.4N.A
Fidelity Overseas12.812.39.38.7
Fidelity Pacific Basin8.3-3.7-4.01.2
Fidelity World-Wide7.212.69.5N.A
MSCI EAFE (International) Index20.09.09.25.5
MSCI Emerging Markets Free Index-25.3-11.2-9.310.9
Average Annualized Compound Return Bond Funds1 Yr3 Yrs5 Yrs10 Yrs
Lehman Bros. Govt/Corporate Bond Index9.5%7.3%7.3%9.3%
Salomon Smith Barney High-Grade Index10.78.38.810.9
C.R.E.F. Bond Market8.67.06.8N.A
Fidelity Investment Grade Bond7.96.65.89.0
Fidelity Ginnie Mae6.46.66.78.4
Fidelity International Bond6.22.8-0.65.4
Fidelity Capital & Income4.810.28.311.2
Fidelity Intermediate Bond7.36.25.88.0
Fidelity Mortgage Securities5.96.87.88.8
Fidelity Short-Term Bond6.15.74.56.9
Fidelity U.S. Bond Index8.98.68.1N.A
TIAA Premium Growth Rate6.7N.A6.88.0
Money Market Funds1 Yr3 Yrs5 Yrs10 Yrs
91-Day Treasury Bills5.0%5.2%5.2%5.5%
C.R.E.F. Money Market5.45.45.25.7
Fidelity Cash Reserves5.35.35.15.5
Fidelity Retirement Govt Money Market9.56.75.95.9
Fidelity U.S. Government Reserves5.35.96.05.8
Retirement Money Market9.66.86.06.0
Balanced Funds1 Yr3 Yrs5 Yrs10 Yrs
C.R.E.F. Social Choice Account18.6%19.5%16.9%N.A
Fidelity Asset Manager16.117.012.014.0
Fidelity Asset Manager: Growth18.120.614.3N.A
Fidelity Asset Manager: Income10.310.29.0N.A
Fidelity Balanced20.217.512.013.1
Fidelity Puritan16.618.015.214.8
Average Annualized Compound Return Specialty Funds1 Yr3 Yrs5 Yrs10 Yrs
Fidelity Real Estate Investment Portfolio-18.6%10.4%8.8%11.5%
Fidelity Strategic Opportunities1.29.311.113.6
Fidelity Select Funds:
Air Transportation6.412.212.013.3
American Gold-8.6-12.8-9.00.3
Automotive4.912.57.113.7
Biotechnology29.716.514.021.8
Brokerage & Investment Management5.733.819.621.0
Chemicals-15.96.010.712.3
Computers96.437.236.428.5
Construction and Housing22.821.714.316.5
Consumer Industries27.525.818.9N.A
Defense & Aerospace4.317.219.315.2
Developing Communications67.726.622.3N.A
Electronics51.134.737.229.8
Energy-14.77.68.79.2
Energy Service-49.74.510.19.6
Environmental Services-17.04.25.2N.A
Financial Services14.128.924.922.2
Food & Agriculture15.619.519.919.2
Health Care41.228.830.526.4
Home Finance-14.819.321.823.5
Industrial Equipment12.719.217.416.3
Industrial Materials-11.01.15.27.5
Insurance20.328.523.320.4
Leisure37.930.321.219.1
Medical Delivery-6.27.914.719.5
Money Market1.33.84.04.8
Multimedia35.721.620.118.9
Paper & Forest Products-7.92.58.59.0
Precious Metals & Minerals0.1-16.5-11.1-0.3
Regional Banks11.830.326.624.5
Retailing45.835.721.622.4
Software & Computer Services45.826.824.524.4
Technology74.230.528.826.1
Telecommunications41.023.220.420.1
Transportation-4.311.410.615.2
Utilities Growth43.127.620.918.5