International equity funds returned a median 6.4% in the fourth quarter, according to InterSec Researchs preliminary EAFE Plus universe results. The MSCI EAFE index was also up 6.4% for the same period. For 2002, the median manager return was -14.2%, vs. -15.9% for the EAFE index.
InterSecs full EAFE Plus universe represents 97% of the managers with U.S. tax-exempt assets under management. The preliminary results are based on 60% of the universe reporting.