Growth equity managers were top performers during the first quarter, the PIPER Managed Accounts Report shows. The median growth equity account returned 6.3% for the quarter and 32.4% for the year ended March 31, compared with 5.4% and 32.1%, respectively, for the S&P 500. Midcap growth posted the strongest showing, with the median portfolio returning 7% for the quarter and 35.2% for the year. The Russell Midcap Index returned 6.02% for the quarter and 29.11% for the year. Small-cap growth was close behind, with 6.3% and 34%, respectively. The RogersCasey Small Growth Index returned 3.13% for the quarter and 29.1% for the year. Overall, equity portfolios returned 6.1% for the quarter and 31% for the year.