The median large-cap growth portfolio in the PIPER Managed Account Report was the only equity strategy to outperform the S&P 500 in the quarter ended June 30. The median large-cap growth account returned 4.3% for the quarter, vs. 3.3% for the S&P. For the year, the median large-cap growth account returned 32.1%, vs. 30.2% for the index.
Of the 764 accounts in the overall managed equity report, the median return was -0.4% for the quarter and 25.2% for the year.
The median small-cap value equity account fared the worst - returning -3.9% for the quarter; median small-cap growth equity performed worst for the year - returning 19%. The small-cap Russell 2000 index returned -4.7% for the quarter and 16.5% for the year.
In fixed income, the median long duration account was the top performer, returning 3.2% for the quarter and 16.6% for the year ended June 30. By contrast, the Salomon Broad returned 2.3% for the quarter and 10.6% for the year.
The median limited duration fixed-income account turned in the worst performance - 1.6% for the quarter and 7% for the year.