Casting for Returns

To juice up their sagging portfolios, pension fund managers are seeking alternative investments.

Consider The Alternatives
Total returns for alternative investments (in %).
Q1
2003
2002 2001 2000 1999 1 Yr. Ended 2002 3 Yrs. Ended 2002 5 Yrs. Ended 2002
Real estate* 1.88 6.75 7.28 12.25 11.36 6.75 8.73 10.72
Private equity** NA -14.7 -20.5 12.1 71.9 -14.7 -5.5 7.7
Venture capital NA -29.2 -32.9 27.9 183.9 -29.2 -6.8 28.1
Buyouts NA -8.0 -15.4 3.2 31.3 -8.0 -5.7 1.0
Mezzanine NA -5.5 -1.6 8.4 33.7 -5.5 1.4 6.4
Hedge funds*** 2.23 3.04 4.42 4.85 23.43 3.04 4.10 6.77
Equity mkt. neutral   7.42 9.31 14.99 15.33 7.42 10.52 12.03
Fixed-income arb.   5.75 8.04 6.29 12.11 5.75 6.69 4.57
S&P 500 -3.6 -22.10 -11.88 -9.19 21.14 -22.10 -14.57 -0.56
* NCREIF Property Index. Source: National Council of Real Estate Investment Fiduciaries
** Private Equity Performance Index. Source: Thomson Financial Venture Economics
*** CSFB/Tremont Hedge Fund Index. Source: Credit Suisse First Boston/Tremont Index LLC

Discuss

Your email address will not be published. Required fields are marked *