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News and Events
Market Commentary
July 2010 | Volume 12, Issue 3
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Let Reason Overcome Fear

The second quarter of 2010 was not an easy time for investors. There was no shortage of unsettling financial headlines…Read More…

Reports of Bond Market’s Demise Greatly Exaggerated

Many were reporting the bond market’s demise three months ago, including this author; but investor psychology often trumps economic fundamentals.Read More…

Quarterly Performance Benchmarks

Passive Benchmarks Q2-2010 Y-T-D 1 Year 3 Year 5 Year†
S&P 500 Index -11.5 -6.7 14.3 -9.8 -0.8
FTSE KLD 400 Social Index -11.7 -7.3 15.8 -7.9 -0.2
DJIA (reinvested dividends) -9.4 -5.0 18.9 -7.4 1.7
S&P MidCap 400 -9.6 -1.4 24.9 -5.9 2.2
Russell 2000 (Small Cap) -9.9 -2.0 21.5 -8.6 0.4
MSCI EAFE (Europe, Australasia, Far East) -14.0 -13.3 5.9 -13.4 0.9
Barclays Capital Aggregate Bond 3.5 5.3 9.5 7.6 5.5
Lipper Mutual Fund Benchmarks*
Average US Diversified Equity -10.3 -4.8 15.2 -9.6 -0.4
Large Cap Growth -12.3 -8.6 11.3 -8.2 -0.5
Large Cap Value -12.2 -7.0 12.9 -11.9 -1.9
Mid Cap Growth -9.6 -2.5 20.7 -6.9 1.1
Mid Cap Value -10.2 -2.8 23.5 -9.0 0.4
Small Cap Core -9.4 -2.2 21.6 -9.0 0.4
International Equity -13.1 -11.7 7.8 -12.8 1.3
Real Estate -4.0 5.2 52.0 -10.0 -0.8
Intermediate-term Bond 2.9 5.4 13.0 6.1 4.6

* Sources: The Financial Times, KLD (www.kld.com), and The Wall Street Journal.

† The 3-Year and 5-Year returns are average annual returns for that benchmark.

Performance data represent past performance and do not guarantee future results. Investing involves risk, including loss of principal. Passive benchmarks are unmanaged groups of stocks not directly available for investment. Lipper Mutual Fund Benchmarks are compiled by Lipper, Inc., a Reuters company. Information has been obtained from sources considered to be reliable; however, neither First Affirmative nor its agents guarantee the accuracy of the numbers reported.

The views expressed in this Market Commentary are those of First Affirmative and may not be consistent with the views of individual investment advisors, broker-dealers, or RIA firms doing business with First Affirmative. Mention of a specific company or security is not a recommendation to buy or sell that security. For information regarding the suitability of any investment for your portfolio, please contact your financial advisor.

Kevin O’Keefe, First Affirmative’s Chief Investment Officer, is responsible for due diligence and monitoring of mutual funds and separate account managers.

Charles Sandmel is a First Affirmative Investment Advisory Representative. A 30-year veteran portfolio manager and past Director of the National Federation of Municipal Analysts, Charles manages fixed-income separate accounts for First Affirmative clients.

 
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