Library
2004 Investment Results
2004 was another good year for equity investors. Equity portfolios with equal weights of U.S. and foreign investments gained 14%. This follows a 32% gain in 2003.
The devaluation of the U.S. dollar relative to the euro resulted in a 60% gain for U.S investors of euro-denominated equities over the past two years.
| BENCHMARK RETURNS (%) | ||||
|
STOCKS |
|||
|
US Large |
US Small |
Foreign |
Bonds |
2004 |
10.9 |
17.0 |
18.3 |
4.3 |
2003 |
28.7 |
45.4 |
35.5 |
4.1 |
2002 |
-22.1 |
-21.6 |
-17.7 |
10.3 |
2001 |
-11.9 |
1.0 |
-22.3 |
8.4 |
TOTAL |
- 2.1 |
34.8 |
2.5 |
29.9 |
Annualized |
- 0.5 |
7.8 |
0.6 |
6.8 |
|
|
|
||
ASSET ALLOCATION RETURNS (%) |
||||
STOCK % / BOND % |
||||
90% / 10% |
75% / 25% |
50% / 50% |
100% BOND |
|
2004 |
14.0 |
12.4 |
9.7 |
4.3 |
2003 |
31.7 |
27.1 |
9.4 |
4.1 |
2002 |
-17.2 |
-12.6 |
-5.0 |
10.3 |
2001 |
-11.3 |
- 8.0 |
-2.5 |
8.4 |
TOTAL |
9.4 |
12.8 |
18.5 |
29.9 |
Annualized |
2.1 |
2.9 |
4.2 |
6.8 |
