|
| Passive Manager | Active Manager | ||||
| Return | Benchmark | Value Add | Return | Benchmark | Value Add | |
| Dec-99 | 3.55% | 3.41% | 0.14% | 10.61% | 9.14% | 1.46% |
| Jan-00 | −1.67% | −1.57% | −0.10% | −1.93% | 2.46% | −4.38% |
| Feb-00 | 1.45% | 1.51% | −0.05% | 0.58% | 3.37% | −2.79% |
| Mar-00 | 0.61% | 0.60% | 0.01% | 0.80% | 2.38% | −1.58% |
| Apr-00 | −0.80% | −2.64% | 1.84% | −6.27% | −6.07% | −0.20% |
| May-00 | −1.21% | 0.10% | −1.31% | −7.20% | −0.52% | −6.68% |
| Jun-00 | 6.93% | 7.04% | −0.11% | 4.00% | −2.08% | 6.08% |
| Jul-00 | −1.28% | −1.20% | −0.08% | −0.59% | −1.16% | 0.58% |
| Aug-00 | 1.66% | 1.60% | 0.06% | 2.15% | 0.52% | 1.63% |
| Sep-00 | 0.34% | 0.32% | 0.02% | −3.14% | −2.57% | −0.57% |
| Oct-00 | −1.00% | −0.98% | −0.01% | −4.05% | −3.56% | −0.49% |
| Nov-00 | 1.08% | 1.13% | −0.05% | −5.82% | −9.14% | 3.32% |
| Dec-00 | −1.49% | −1.73% | 0.25% | 0.73% | −2.38% | 3.11% |
| Jan-01 | 3.65% | 3.92% | −0.27% | 10.22% | 12.75% | −2.53% |
| Feb-01 | −0.06% | −0.15% | 0.09% | −3.70% | −2.98% | −0.72% |
| Mar-01 | −4.30% | −4.22% | −0.08% | −1.59% | −1.73% | 0.14% |
| Apr-01 | 5.24% | 5.15% | 0.09% | 0.21% | 1.11% | −0.90% |
| May-01 | 1.57% | 1.47% | 0.09% | 3.70% | 3.41% | 0.29% |
| Compounded return | 14.55% | 13.94% | 0.61% | −3.30% | 0.77% | −4.07% |