12
U.S. stocks rose during the first half of September,
hitting all-time highs after the Federal Reserve indi-
cated midmonth it was not yet tapering its bond-
buying stimulus program. The Fed said it was worried
about the effects that a possible government shut-
down could have, and, in fact, the market declined at
the end of the month as that threat looked more real.
The S
&
P
500
still gained
3
.
1%
for the month. Small
caps fared even better, with the Russell
2000
rising
6
.
4%
in September.
Large-cap industrials had a strong month, with the
industrials category posting a
6
.
4%
gain.
Mairs &
Power Growth
MPGFX
, with
31%
of assets allo-
cated to industrials, outpaced most large-blend peers,
gaining
4
.
6%
in September.
Foreign stocks did even better in September. The
MSCI
EAFE
Index gained
7
.
4%
for the month. Japa-
nese stocks advanced, with the Nikkei
225
Index
posting an
8%
return for the month.
Fidelity Interna-
tional Small Cap
FISMX
, which has a
30%
allo-
cation to Japanese stocks, outpaced foreign small/
mid-growth peers, gaining
9%
.
Emerging markets continued to show signs of life,
with the
MSCI
Emerging Markets Index gaining
6
.
5%
during the month thanks in part to a delay in Fed
tapering. Struggling India equities rallied during the
first part of the month, only to fall as the nation’s
Reserve Bank surprised markets with an interest-rate
hike.
Matthews India Investor
MINDX
gained
13
.
9%
for the month.
Municipal bonds and taxable bonds saw renewed
interest following the Fed’s decision. Intermediate-
term muni bonds gained
1
.
8%
during the month,
edging the intermediate-term-bond category’s
1
.
0%
gain.
PIMCO Total Return
PTTRX
outpaced peers,
returning
1
.
8%
.
œ
Total Return
%
Through
A N N U A L I Z E D
09-30-13
1Mo YTD 3Yr
5Yr
10Yr
Benchmark Performance
Fed Provides a Boost But Month Ends
on Down Note
Market Overview
|
Flynn Murphy
Large Growth
5.0 21.4 15.0 10.3 6.8
Large Blend
3.4 19.7 14.4 9.1 6.8
Large Value
2.8 20.0 14.5 8.6 6.9
Mid-Cap Growth
5.3 24.5 15.7 11.6 8.6
Mid-Cap Blend
4.6 23.4 15.8 11.4 9.0
Mid-Cap Value
4.2 23.8 16.0 11.5 9.4
Small Growth
6.3 30.3 18.3 12.3 8.6
Small Blend
5.9 26.0 17.2 11.2 9.2
Small Value
5.3 24.6 16.9 11.1 9.5
Aggressive Allocation
3.8 13.4 10.3 8.1 6.6
Conservative Allocation
2.0 4.0 6.1 6.7 4.8
Moderate Allocation
2.8 10.2 9.3 7.6 5.9
Communications
5.1 15.1 10.5 10.1 8.1
Financials
3.7 22.5 12.5 5.6 3.5
Global Real Estate
6.0 3.0 8.6 6.4 8.5
Health
5.7 37.1 23.7 15.0 10.4
Natural Resources
4.1 3.9 3.1 1.3 10.0
Precious Metals
-8.8 -40.7 -21.5 -2.5 4.7
Real Estate
3.3 2.0 11.2 5.7 8.7
Technology
6.0 23.3 13.1 13.4 7.8
Utilities
2.8 13.1 12.0 8.2 10.1
S&P 500
3.1 19.8 16.3 10.0 7.6
S&P MidCap 400
5.2 23.2 17.5 13.1 10.8
Russell 2000
6.4 27.7 18.3 11.2 9.6
Diversified Asia/Pac. Stock
7.1 8.4 5.3 7.1 8.2
Diversified Emerg. Mkts.
6.6 -3.2 -0.5 5.9 11.5
Europe Stock
6.2 15.5 8.2 6.5 8.5
Foreign Large Blend
6.9 12.6 7.2 5.5 7.4
Foreign Large Growth
6.8 11.6 7.6 7.1 8.0
Foreign Large Value
7.0 14.2 7.2 5.2 7.3
Foreign Small/Mid Growth
7.3 19.2 10.9 11.4 11.4
Foreign Small/Mid Value
7.8 17.6 9.3 9.2 9.0
World Stock
5.4 16.1 10.3 8.1 7.8
MSCI EAFE
7.4 16.1 8.5 6.4 8.0
MSCI World
5.0 17.3 11.8 7.8 7.6
MSCI Emerging Markets
6.2 -6.4 -2.8 4.6 10.1
MSCI Europe
7.2 16.1 8.7 6.0 8.5
MSCI Latin America
8.4 -13.0 -9.0 0.7 13.9
MSCI Pacific
7.8 16.5 8.3 7.3 7.1
High-Yield Bond
1.0 3.6 8.1 10.6 7.0
Inflation-Protected Bond
1.3 -6.3 3.0 4.5 4.2
Intermediate-Term Bond
1.0 -1.7 3.3 6.2 4.1
Muni National Long
2.4 -4.7 2.9 5.7 3.6
World Bond
1.8 -3.3 2.0 5.6 4.7
BarCap US Agg Bond TR USD 1.0 -1.9 2.9 5.4 4.6
BofAML US HY Master II TR 1.0 3.8 8.9 13.4 8.7
BarCap Municipal TR USD
2.2 -2.9 3.2 6.0 4.4
