Median growth equity managed portfolios outperformed the S&P 500 in the quarter ended June 30, but underperformed for the year, according to the latest PIPER report. The overall median growth portfolio returned 17.9% for the quarter and 22.8% for the year, compared with the S&P 500's 17.5% for the quarter and 34.7% for the year.
The median small-cap growth portfolio performed the best for the quarter, returning 18.9%; and worst for the year, returning only 10.4%. The worst performing category for the quarter was large-cap value, returning 14.7%. That category was the second best for the year, returning 30.7%. The median large-cap core equity managed portfolio topped the one-year returns, with 34.4%.
In fixed income, the median long duration bond account was the top performer, returning 5% for the quarter and 9.7% for the year. The Salomon Broad Bond Index returned 3.6% for the quarter and 8.2% for the year.
The median limited duration bond account fared worst, returning 2.2% for the quarter and 6.8% for the year.
The Japanese median equity account topped international rankings for the quarter with 22.3%.
Sabine Schramm
