The University Record, September 16, 1998

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), or the companies.

University of Michigan Investment Funds Update

Average Annual Total Returns as of June 30, 1998

Equity Funds

1 Year

3 Years

5 Years

10 Years

Standard & Poor's 500 Stock Index

30.2%

30.2%

23.1%

18.6%

Fidelity Low Priced Stock

21.9

24.2

20.8

NA

Fidelity OTC Portfolio

22.6

21.2

18.7

17.5

Lipper Capital Appreciation Funds Average

22.1

21.0

16.8

15.1

CREF Equity Index Account

28.4

28.1

NA

NA

CREF Growth Account

28.2

28.8

NA

NA

CREF Stock Account

24.9

25.2

19.5

16.2

Fidelity Blue Chip Growth

29.3

23.9

22.1

21.5

Fidelity Capital Appreciation

20.8

20.2

17.1

14.4

Fidelity Contrafund

29.7

25.7

20.4

23.0

Fidelity Disciplined Equity

32.4

25.2

20.5

NA

Fidelity

33.5

29.5

22.6

17.7

Fidelity Growth Company

21.0

21.4

18.5

19.6

Fidelity Growth & Income

28.0

28.5

21.9

19.6

Fidelity Magellan

29.0

22.1

19.3

18.8

Fidelity Retirement Growth

29.3

20.9

17.4

16.1

Fidelity Trend

14.9

17.3

12.7

13.8

Fidelity Spartan U.S. Equity Index

29.8

29.9

22.8

18.3

Lipper Growth Funds Average

25.4

24.2

19.3

16.5

Fidelity Convertible Securities

23.4

18.0

14.0

16.2

Fidelity Equity Income

23.2

25.8

20.2

15.8

Fidelity Equity Income II

27.0

24.9

19.5

NA

Fidelity Value

14.0

21.0

18.5

16.8

Lipper Growth & Income Funds Average

22.9

24.8

19.0

15.8

CREF Global Equities

19.8

20.8

18.1

NA

Fidelity Canada

4.3

11.3

6.7

8.9

Fidelity Emerging Markets

-49.1

-18.3

-7.5

NA

Fidelity Europe

34.7

27.3

23.2

15.4

Fidelity International Growth & Income

11.1

14.3

11.3

10.0

Fidelity Japan

-22.9

-4.5

-3.7

NA

Fidelity Overseas

10.7

15.2

13.4

9.5

Fidelity Pacific Basin

-26.6

-6.7

-1.1

.6

Fidelity World Wide

14.2

16.1

14.8

NA

MSCI EAFE (International) Index

6.1

10.7

10.0

6.8

MSCI Emerging Markets Free Index

-39.1

-9.3

.4

12.2

Bond Funds

1 Year

3 Years

5 Years

10 Years

Lehman Bros./Corp Bond Index

11.3%

7.9%

6.9%

9.1%

Salomon Brothers High-Grade Index

15.6

9.7

8.4

10.7

CREF Bond Market

10.5

7.6

6.5

NA

Fidelity Investment Grade Bond

10.1

7.3

6.2

8.9

Fidelity Ginnie Mae

8.1

7.4

6.3

8.3

Fidelity Intl Bond (FKA Global Bond)

1.4

1.5

.4

5.3

Fidelity Capital & Income

17.1

13.2

10.5

11.9

Fidelity Intermediate Bond

8.4

6.6

5.8

7.9

Fidelity Mortgage Securities

8.7

8.0

7.6

8.8

Fidelity Short-Term Bond

6.6

5.9

4.6

6.8

Fidelity U.S. Bond Index

15.0

9.2

7.7

NA

TIAA Premium Growth Rate

7.3

NA

6.7

8.1

Money Market Funds

1 Year

3 Years

5 Years

10 Years

91-Day Treasury Bills

5.3%

5.3%

5.0%

5.6%

CREF Money Market

5.5

5.5

5.0

5.8

Fidelity Cash Reserves

5.4

5.3

4.8

5.6

Fidelity Retirement Govt. Money Market

5.4

5.4

4.9

NA

Fidelity US Governtment Reserves

7.4

5.9

5.7

5.9

Retirement Money Market

5.5

5.4

5.0

NA

Balanced Funds

1 Year

3 Years

5 Years

10 Years

CREF Social Choice Account

21.8%

21.0%

16.1%

NA

Fidelity Asset Manager

18.8

17.6

13.0

NA

Fidelity Asset Manager: Growth

23.0

22.0

15.9

NA

Fidelity Asset Manager: Income

12.2

11.2

9.2

NA

Fidelity Balanced

22.2

17.0

11.4

12.6

Fidelity Puritan

19.0

19.7

15.6

14.6

Specialty Funds

1 Year

3 Years

5 Years

10 Years

Fidelity Real Estate Investment Portfolio

6.8%

19.2%

12.1%

13.1%

Fidelity Strategic Opportunities

16.7

16.1

14.1

14.2

Fidelity Select Funds:

Air Transportation

46.3

21.0

18.9

15.1

American Gold

-36.7

-14.1

-7.8

-1.4

Automotive

16.2

17.6

11.2

13.7

Biotechnology

13.3

16.3

11.6

18.6

Brokerage & Investment Management

57.7

42.3

27.8

22.8

Chemicals

1.5

14.2

16.2

13.4

Computers

26.3

22.2

30.8

21.1

Construction & Housing

32.2

25.0

18.1

16.1

Consumer Products

41.7

29.9

20.4

NA

Defense & Aerospace

24.9

25.7

23.8

15.3

Developing Communications

22.8

12.3

17.6

NA

Electronics

.2

20.2

30.3

22.1

Energy

8.5

18.0

11.8

11.1

Energy Service

9.6

32.6

20.1

15.0

Environmental Services

5.9

12.1

19.4

NA

Financial Services

42.2

38.0

26.7

22.4

Food & Agriculture

21.3

22.7

20.1

19.5

Health Care

32.3

32.2

30.5

24.8

Home Finance

26.7

37.1

31.6

26.7

Industrial Equipment

15.2

21.4

21.1

14.9

Industrial Materials

2.8

7.1

10.9

8.5

Insurance

35.6

34.0

22.8

20.6

Leisure

51.6

29.0

23.1

18.4

Medical Delivery

19.2

22.7

24.4

22.2

Money Market

5.2

5.2

4.6

5.3

Multimedia

42.7

21.6

22.0

18.6

Paper & Forest Products

.8

6.3

13.0

9.7

Precious Metals & Materials

-38.9

-19.8

-9.8

-2.5

Regional Banks

36.0

38.4

26.8

25.1

Retailing

52.4

32.2

20.9

21.5

Software & Computer Services

37.2

25.9

23.0

22.0

Technology

17.2

19.6

21.9

20.0

Telecommunications

38.7

24.0

20.0

19.7

Transportation

17.8

19.0

15.2

17.3

Utilities

30.8

25.3

15.2

16.3


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