First Quarter 2016 Asset Class Returns

Asset Class Index Performance Q1 2016
Emerging Markets MSCI EM 5.8%
REITs NAREIT Equity REIT Index 5.8%
High Yield Bonds Barclays Global HY Index 4.1%
US Bonds Barclays Aggregate 3.0%
US Large Cap S&P 500 2.0%
Commodities Bloombery Commodity Index 0.4%
Developed Intl. Markets MSCI EAFE -0.4%
US Small Cap Russell 2000 -1.5%

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