S&P 500 Exceeds $1 Trillion in Indexed Assets

March 14, 2004

Standard & Poor's releases results of 2003 U.S. indexed assets survey.
Standard & Poor'sannounced the results of its 2003 U.S. Indexed Assets Survey for several of its major indices including the S&P 500, S&P SmallCap 600, S&P MidCap 400 and its new benchmark series, the S&P/Citigroup Global Equity Indices. The over $1.2 trillion directly indexed to S&P indices represents a total growth of 36% from last year's surveyed assets, exceeding general market performance which was 28.7% as measured by the S&P 500 total return index.

'It is important to note that the survey tracks assets in products such as ETFs and mutual funds that directly replicate S&P indices as well as those managed in-house by large institutional investors,' said Melinda Chu, director of market development, Standard & Poor's Index Services. 'This is different from tracking benchmarked assets which are extremely difficult to quantify, and falls beyond the scope of this survey."

'Assets tied to the S&P 500 have once again exceeded the $1 trillion mark, after dipping below in 2002 due to market conditions,' said Chu. 'As the market rebounded in 2003, confidence in the S&P 500 improved, while growth in indexed mid-cap and small-cap assets held steady.'

2003 also marked a 37% increase in assets tied to the S&P Composite 1500, the investable broad market benchmark for the U.S. equities market as it continued to gain acceptance as the index of choice among plan sponsors.

This year, Standard & Poor's added the S&P/Citigroup Global Equity Indices, a global series of broad benchmarks covering 52 markets and over 7,500 stocks, to its survey. As of December 31, 2003, assets directly indexed to the S&P/Citigroup indices totaled $12.1 billion. Most assets associated with the broad-based S&P/Citigroup global index series are used for performance measurement.

This survey was sent to several hundreds of asset managers and plan sponsors who directly manage indexed or enhanced assets. Numbers do not include active funds or assets that are benchmarked to S&P indices for performance measurement.

 

 

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