SIP Fund Earnings--1998
ATTENTION: Because of circumstances beyond our control we will not be able
to post 3 year average annualized returns on this monthly report. Those
returns are provided by the funds on a quarterly basis only. If you need
those returns you may obtain them by calling the funds as follows: Bankers
Trust, 1-800-943-2222; Fidelity, 1-800-544-8888; and Janus, 1-800-525-8983.
The aim of the SIP is to update monthly returns as early as possible. We
will post updates as soon as verified, audited results are received from
the funds. Presently we expect to be able to post returns between the 10th
and the 15th of the month.
Latest Update 01-14-99
JANUARY
FUND MONTH YTD 12 MNTH UNIT VALUE
Fixed Income 00.56% 00.56% 06.89% 2.0696
BT L/C Short 01.26% 01.26% 12.95% 1.3726
BT L/C Mid 01.22% 01.22% 16.06% 1.4999
BT L/C Long 01.20% 01.20% 19.15% 1.6825
Fid Puritan 00.92% 00.92% 19.70% 3.2638
Janus Fund 02.68% 02.68% 20.48% 1.8088
Bt Eq. Appr -2.92% -2.92% 07.86% 1.6178
Bt Int'l Eq 03.24% 03.24% 17.53% 1.643
Bt Small Cap -0.52% -0.52% 07.15% 1.703
Fid Magellan 01.12% 01.12% 23.00% 3.9496
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%
U/V - Unit Value
FEBRUARY
FUND MONTH YTD 12 MNTH UNIT VALUE
Fixed Income 00.51% 01.08% 06.89% 2.0801
BT L/C Short 01.90% 03.18% 14.74% 1.3986
BT L/C Mid 03.37% 04.63% 19.85% 1.5504
BT L/C Long 04.89% 06.14% 25.06% 1.7647
Fid Puritan 03.91% 04.86% 22.46% 3.3913
Janus Fund 08.24% 11.14% 30.40% 1.9578
Bt Eq. Appr 08.54% 05.37% 28.16% 1.7560
Bt Int'l Eq 06.63% 10.08% 23.57% 1.7519
Bt Small Cap 08.81% 08.25% 30.80% 1.8530
Fid Magellan 07.61% 08.82% 34.13% 4.2504
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%
U/V - Unit Value
MARCH
ROLLING ROLLING ROLLING
FUND ONE-MONTH YTD** 12-MONTH 3-YEAR
Fixed Income* 00.56% 01.68% 06.88% 06.99%
BT L/C Short 01.69% 04.95% 18.68% 12.47%
BT L/C Mid 02.78% 07.49% 26.33% 17.20%
BT L/C Long 03.59% 09.95% 33.69% 22.05%
Fid Puritan 03.12% 08.07% 30.30% 20.79%
Janus Fund 03.07% 14.50% 40.85% 26.71%
Bt Eq. Appr 06.72% 12.27% 46.32% 22.42%
Bt Int'l Eq 08.56% 19.44% 34.90% 24.53%
Bt Small Cap 04.28% 12.73% 52.09% 23.61%
Fid Magellan 05.04% 14.21% 45.41% 26.78%
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%.
Fixed Income is expressed in Unit Values others are calculated using NAV.
Rolling 12-Month and Rolling 3-Year returns are Average Annual Total Returns
APRIL
ROLLING ROLLING
FUND ONE-MONTH YTD** 12-MONTH
Fixed Income* 00.53% 02.18% 06.29%
BT L/C Short 00.83% 05.82% 17.06%
BT L/C Mid 00.89% 08.45% 23.68%
BT L/C Long 01.03% 11.08% 29.96%
Fid Puritan 00.58% 08.69% 25.90%
Janus Fund 02.56% 17.43% 39.48%
Bt Eq. Appr 01.01% 13.40% 48.40%
Bt Int'l Eq 02.80% 22.78% 36.58%
Bt Small Cap 00.59% 13.39% 57.53%
Fid Magellan 01.15% 15.53% 40.79%
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%.
Fixed Income is expressed in Unit Values others are calculated using NAV.
Rolling 12-Month is an Average Annual Total Return.
MAY
ROLLING ROLLING
FUND ONE-MONTH YTD** 12-MONTH
Fixed Income* 00.51% 02.71% 06.80%
BT L/C Short 00.82% 06.69% 15.61%
BT L/C Mid 00.32% 08.80% 20.50%
BT L/C Long -0.27% 10.78% 24.79%
Fid Puritan -0.14% 08.54% 20.83%
Janus Fund -2.39% 14.62% 29.53%
Bt Eq. Appr -4.23% 08.60% 28.10%
Bt Int'l Eq 00.85% 23.83% 30.84%
Bt Small Cap -9.23% 02.92% 22.75%
Fid Magellan -1.98% 13.32% 28.82%
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%.
Fixed Income is expressed in Unit Values others are calculated using NAV.
Rolling 12-Month is an Average Annual Total Return.
JUNE
ROLLING ROLLING
FUND ONE-MONTH YTD** 12-MONTH
Fixed Income* 00.57% 03.29% 06.82%
BT L/C Short 01.25% 08.03% 14.83%
BT L/C Mid 01.94% 10.92% 19.54%
BT L/C Long 02.50% 13.55% 23.70%
Fid Puritan 02.11% 10.83% 18.95%
Janus Fund 06.01% 21.50% 31.99%
Bt Eq. Appr 06.38% 15.53% 30.60%
Bt Int'l Eq -0.20% 23.58% 21.05%
Bt Small Cap 06.00% 09.09% 23.24%
Fid Magellan 04.26% 18.08% 28.97%
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%.
Fixed Income is expressed in Unit Values others are calculated using NAV.
Rolling 12-Month is an Average Annual Total Return.
July
ROLLING ROLLING
FUND ONE-MONTH YTD** 12-MONTH
Fixed Income* 00.56% 03.87% 06.82%
BT L/C Short 00.00% 08.03% 10.71%
BT L/C Mid -0.24% 10.65% 13.43%
BT L/C Long -0.54% 12.94% 15.47%
Fid Puritan -0.24% 10.57% 12.56%
Janus Fund 00.20% 21.75% 22.54%
Bt Eq. Appr -5.77% 08.87% 11.64%
Bt Int'l Eq 02.58% 26.77% 20.02%
Bt Small Cap -10.00% -1.82% -0.16%
Fid Magellan -0.75% 17.19% 18.01%
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%.
Fixed Income is expressed in Unit Values others are calculated using NAV.
Rolling 12-Month is an Average Annual Total Return.
August
ROLLING ROLLING
FUND ONE-MONTH YTD** 12-MONTH
Fixed Income* 00.55% 04.45% 06.80%
BT L/C Short -1.45% 06.46% 11.40%
BT L/C Mid -4.77% 05.38% 11.47%
BT L/C Long -8.00% 03.90% 10.85%
Fid Puritan -9.82% -0.28% 06.20%
Janus Fund -17.00% 01.05% 06.64%
Bt Eq. Appr -22.17% -15.27% -12.66%
Bt Int'l Eq -14.75% 08.08% 08.70%
Bt Small Cap -24.52% -25.90% -27.27%
Fid Magellan -15.49% -0.95% 04.45%
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%.
Fixed Income is expressed in Unit Values others are calculated using NAV.
Rolling 12-Month is an Average Annual Total Return.
September
ROLLING ROLLING
FUND ONE-MONTH YTD** 12-MONTH
Fixed Income* 00.52% 04.99% 06.77%
BT L/C Short 02.87% 09.51% 11.61%
BT L/C Mid 03.49% 09.06% 11.42%
BT L/C Long 04.31% 08.38% 10.83%
Fid Puritan 03.74% 03.45% 05.91%
Janus Fund 07.01% 08.13% 07.65%
Bt Eq. Appr 09.99% -6.80% -10.68%
Bt Int'l Eq -4.61% 03.09% -3.73%
Bt Small Cap 11.30% -17.52% -28.38%
Fid Magellan 06.05% 05.03% 04.61%
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%.
Fixed Income is expressed in Unit Values others are calculated using NAV.
Rolling 12-Month is an Average Annual Total Return.
October
ROLLING ROLLING
FUND ONE-MONTH YTD** 12-MONTH
Fixed Income* 00.52% 05.54% 06.72%
BT L/C Short 01.17% 10.80% 13.33%
BT L/C Mid 02.52% 11.81% 15.45%
BT L/C Long 03.46% 12.13% 16.74%
Fid Puritan 04.91% 08.52% 13.43%
Janus Fund 04.17% 12.64% 15.12%
Bt Eq. Appr 02.86% -4.13% -4.76%
Bt Int'l Eq 06.38% 09.67% 10.50%
Bt Small Cap 02.27% -15.65% -20.07%
Fid Magellan 07.70% 13.12% 16.64%
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%.
Fixed Income is expressed in Unit Values others are calculated using NAV.
Rolling 12-Month is an Average Annual Total Return.
November
ROLLING ROLLING
FUND ONE-MONTH YTD** 12-MONTH
Fixed Income* 00.53% 06.09% 06.69%
BT L/C Short 01.34% 12.28% 13.51%
BT L/C Mid 02.46% 14.56% 16.08%
BT L/C Long 04.51% 17.18% 18.89%
Fid Puritan 03.89% 12.75% 15.08%
Janus Fund 06.69% 20.18% 21.86%
Bt Eq. Appr 06.68% 02.27% 04.32%
Bt Int'l Eq 05.68% 15.90% 16.84%
Bt Small Cap 09.80% -7.38% -7.96%
Fid Magellan 07.76% 21.90% 23.29%
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%.
Fixed Income is expressed in Unit Values others are calculated using NAV.
Rolling 12-Month is an Average Annual Total Return.
December
ROLLING ROLLING
FUND ONE-MONTH YTD** 12-MONTH
Fixed Income* 00.52% 06.64% 06.64%
BT L/C Short 01.11% 13.53% 13.53%
BT L/C Mid 02.17% 17.05% 17.05%
BT L/C Long 03.33% 21.08% 21.08%
Fid Puritan 03.41% 16.59% 16.59%
Janus Fund 15.57% 38.89% 38.89%
Bt Eq. Appr 15.18% 17.79% 17.79%
Bt Int'l Eq 04.25% 20.82% 20.82%
Bt Small Cap 14.61% 06.15% 06.15%
Fid Magellan 09.62% 33.63% 33.63%
**YTD begins with Jan. 1998
*Projected annual 1998 Fixed Income return is 6.40% to 6.80%.
Fixed Income is expressed in Unit Values others are calculated using NAV.
Rolling 12-Month is an Average Annual Total Return.