The overall PIPER median commingled bond fund bested the index for the...

The overall PIPER median commingled bond fund bested the index for the quarter and year ended June 30, returning -0.7% and 3.5%, respectively. The top-performing bond group was limited duration, where the median fund returned 0.6% for the quarter and 5.2% for the year. In comparison, the Salomon Smith Barney Broad Investment Grade Bond index returned -0.9% and 3.1%, respectively. The median broad market fixed-income fund matched the index for both periods.