12
Fears about Federal Reserve tapering and weak retail
numbers pushed the markets steadily down in August.
The S
&
P
500
slid
2
.
9%
for the month. Small-cap
stocks were not immune to market conditions, as the
Russell
2000
Index lost
3
.
2%
.
Almost all stock sectors dropped during the month,
but precious-metals, commodities, and natural-
resources stocks actually made some gains. The
equity precious-metals, commodities broad-basket,
and natural-resources fund categories gained
7
.
9%
,
3
.
1%
, and
0
.
6%
, respectively, in August.
PIMCO
Commodity Real Return Strategy
PCRDX
under-
performed the average commodities broad-basket
fund with a
1
.
8%
rise for the month.
Developed foreign markets dipped a bit, and emerg-
ing markets were clobbered. The
MSCI
EAFE
Index
only shed a modest
1
.
2%
for the month, while the
MSCI
Emerging Markets Index dropped
1
.
7%
. Euro-
pean stocks performed relatively well this month;
the Europe-stock category lost
1
.
3%
on average.
Mutual European
TEMIX
fared slightly better with
a
0
.
7%
downtick. Emerging markets with current
account deficits proved to be quite vulnerable to signs
of Fed tapering as it could mean an end to cheap
financing.
Virtus Emerging Markets Opportunities
HEMZX
outperformed many peers with a
8
.
2%
loss.
The Indian stock market had a particularly rough
month as concerns grew over its currency’s strength.
Taxable bonds slightly underperformed municipal
bonds this month. The intermediate-term bond cate-
gory lost
0
.
7%
on average, compared with a
0
.
5%
dip for intermediate-term government-bond funds.
Short-term bonds did better than long-term bonds.
The short-term bond category lost only
0
.
2%
on
average, compared with the long-term bond catego-
ry’s
1
.
4%
drop.
PIMCO Total Return
PTTRX
lost
1
.
1%
for the month.
œ
Total Return
%
Through
A N N U A L I Z E D
08-31-13
1Mo YTD 3Yr
5Yr
10Yr
Benchmark Performance
Fed Tapering Concerns Chill U.S. and
Emerging Markets
Market Overview
|
Kailin Liu
Large Growth
-1.6 15.6 17.1 6.4 6.1
Large Blend
-2.8 15.7 16.5 6.2 6.3
Large Value
-3.2 16.8 16.6 6.1 6.5
Mid-Cap Growth
-1.6 18.2 18.0 7.2 7.7
Mid-Cap Blend
-2.9 18.0 18.0 7.7 8.4
Mid-Cap Value
-2.9 18.8 18.1 8.2 8.8
Small Growth
-1.1 22.5 20.7 8.3 7.7
Small Blend
-3.2 19.0 19.4 7.8 8.4
Small Value
-3.6 18.3 18.9 8.4 8.8
Aggressive Allocation
-2.1 9.3 11.6 5.1 6.2
Conservative Allocation
-1.5 1.9 6.7 5.0 4.7
Moderate Allocation
-1.9 7.1 10.3 5.3 5.7
Communications
-2.1 9.6 12.4 5.0 7.5
Financials
-3.7 18.1 14.0 3.6 3.1
Global Real Estate
-4.1 -2.8 9.7 3.4 8.3
Health
-1.9 29.7 25.3 12.1 9.9
Natural Resources
0.6 -0.1 5.1 -3.7 9.5
Precious Metals
7.9 -35.0 -16.9 -3.2 6.0
Real Estate
-6.4 -1.3 11.6 4.6 8.7
Technology
-0.5 16.3 15.6 8.5 6.8
Utilities
-4.1 10.0 12.7 4.5 10.0
S&P 500
-2.9 16.2 18.4 7.3 7.1
S&P MidCap 400
-3.8 17.1 19.7 9.4 10.1
Russell 2000
-3.2 20.0 20.5 8.0 8.8
Diversified Asia/Pac. Stock
-2.6 1.2 6.1 2.7 7.8
Diversified Emerg. Mkts.
-2.9 -9.2 0.7 0.8 10.9
Europe Stock
-1.3 8.8 9.7 1.7 8.1
Foreign Large Blend
-2.0 5.4 8.3 1.2 6.9
Foreign Large Growth
-1.9 4.5 8.8 2.2 7.4
Foreign Large Value
-1.8 6.7 8.0 1.1 6.8
Foreign Small/Mid Growth
-1.3 11.1 12.4 6.0 11.1
Foreign Small/Mid Value
-1.0 9.1 10.2 4.0 8.6
World Stock
-2.1 10.2 11.7 4.2 7.3
MSCI EAFE
-1.3 8.2 9.3 1.6 7.6
MSCI World
-2.1 11.7 13.3 4.1 7.1
MSCI Emerging Markets
-1.9 -11.9 -1.4 -0.6 9.5
MSCI Europe
-1.3 8.3 10.0 1.2 7.9
MSCI Latin America
-3.3 -19.8 -8.4 -5.1 13.3
MSCI Pacific
-1.4 8.0 8.3 2.8 6.9
High-Yield Bond
-0.7 2.6 8.8 8.7 7.2
Inflation-Protected Bond
-1.4 -7.5 2.9 3.3 4.4
Intermediate-Term Bond
-0.7 -2.6 3.1 5.3 4.3
Muni National Long
-2.0 -6.9 2.1 4.0 3.7
World Bond
-1.3 -5.1 2.3 4.5 5.0
BarCap US Agg Bond TR USD -0.5 -2.8 2.6 4.9 4.8
BofAML US HY Master II TR -0.6 2.8 9.6 11.2 8.9
BarCap Municipal TR USD -1.4 -4.9 2.5 4.5 4.5
