PITTSBURGH — The large-cap core equity universe of the Yanni Partner's Inc.'s database had a median return of 28.06% for 2003, a dramatic increase from the -21.66% median posted in 2002.
The large-cap value equity universe median was 29.7%, up from -18.17%, and the large-cap growth median was 28.52%, up from -26.36%.
"They're very robust," said Paul Ames, director, institutional data division at the Pittsburgh-based consulting firm. "They're a good approximation of what the industry as a whole is doing. It outperformed for the fourth quarter."
Yanni's total fixed-income universe displayed a year-end median of 4.2%, down from 9.69% as of Dec. 31, 2002. The core fixed-income universe had a median of 4.8%, down from 10.28% and the core-plus median was 6.47%, down from 9.11%.
Yanni Partners constructs quarterly performance and statistical peer group universes from its Graphic Ranking of Investment Descriptors system, which provides investment performance and qualitative data on more than 5,000 investment funds.
"We currently have about 1,200 managers who upload their data into our database," said Yanni's Mr. Ames.
The database includes composite data, individually managed portfolio results and commingled fund returns.