In This Market Active Management Can Add Value to Value Investing

Chart of the Week for August 24-30, 2001

Shunned during the dot.com frenzy, value investing is again in favor as investors have adopted an anti-growth bias. The S&P/BARRA Value Index’s superior performance compared to the broader S&P 500 Index is evidence of this trend. Active management also provides an opportunity to add value over a benchmark. Through diligent research and careful stock selection, active fund managers may find stocks with greater potential than those held in an index. For example, through superior stock selection, the Vantagepoint Equity Income Fund has outperformed its benchmark, the S&P/BARRA Value Index, as well as the broader S&P 500 Index. Accordingly it was recently recognized by The Wall Street Journal as one of the ten best performing Equity Income Funds over the past year (August 24, 2001; page C16).

This illustration was compiled by information from outside sources. These companies are not affiliated with ICMA-RC. This information is being provided for educational purposes and is not intended to be construed as or relied upon as investment advice. ICMA-RC does not offer specific tax or legal advice. Individuals are advised to consider any new investment strategies carefully prior to implementing.

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The performance data quoted represents past performance. Past performance is no guarantee of future results. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data illustrated. For performance data current to the most recent month end, contact ICMA-RC Services, LLC by calling 800-669-7400 or by writing to 777 North Capitol Street, NE, Washington, DC 20002-4240. Para asistencia en Español llame al 800-669-8216. Performance data current to the most recent quarter end is available by visiting www.icmarc.org.