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D
omestic equities added to their double digit returns
in 2016 with a strong performance in the first quarter
of 2017. The S&P 500 Index produced a first quarter
return of 6.07%. The majority of the index gains came in
January and February before slowing down in March.
In the United States, large capitalization equities proved
to be the most successful in the first quarter. Large
cap growth investments led the way, returning 8.65%
over the quarter. Growth oriented equities outperformed
value throughout the quarter. Small cap growth equities
outperformed small cap value by 5.22% and large cap
growth equities outperformed large cap value by 4.95%.
PAGE 1
ECONOMIC REVIEW
© Copyright 2017. CBIZ, Inc. NYSE Listed: CBZ. All rights reserved.
Source: Morningstar
Retirement Matters
1ST QUARTER 2017 | ISSUE NO. 62
Managing Your Retirement Plan Just Got Easier.
IN THIS UPDATE:
ECONOMIC REVIEW................................................... PAGE 1
REBALANCING........................................................... PAGE 2
PERFORMANCE
Name
1Q17
YTD
1 Yr
3 Yr
5 Yr
S&P 500 Index
6.07
6.07
17.17 10.37 13.30
Russell 2000 Index
2.47
2.47
26.22
7.22
12.35
MSCI EAFE Index
7.25
7.25
11.67
0.50
5.83
MSCI EM Index
11.45 11.45 17.22
1.18
0.81
Barclays US Agg
Bond Index
0.82
0.82
0.44
2.68
2.34
Morningstar
Large Cap Value
3.70
3.70
17.40
7.20
11.39
Morningstar
Large Cap Growth
8.65
8.65
14.84
8.49
11.52
Morningstar
Small Cap Value
0.33
0.33
23.28
6.01
11.27
Morningstar
Small Cap Growth
5.55
5.55
22.41
5.30
10.68
International developed markets experienced a turnaround
in the first quarter after three years of dismal returns.
The MSCI EAFE Index posted a 7.25% return for the first
quarter. Additionally, emerging markets added on to their
strong 2016 calendar year. The MSCI EM Index returned
11.45% in the first quarter.
In March, the Federal Reserve decided to raise the Fed fund
rate by 0.25% to a target range between 0.75% and 1.00%.
The Fed noted they will likely increase rates again in 2017.
The bond markets as measured by Barclays US Agg Bond
Index returned a nominal 0.82% for the first quarter.
The chart below shows the major index and Morningstar
category style returns for the quarter, one-year, three-year,
and five-year time periods ending March 31, 2017.
89