Beta Management Co.

Harvard Business School Case #292-122

Case Software #XLS-132

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Table 1 Investment Return Data

MONTH
1989 - January
February
March
April
May
June
July
August
September
October
November
December
1990 - January
February
March
April
May
June
July
August
September
October
November
December

Vanguard Index
500 Trust
7.32%
-2.47%
2.26%
5.18%
4.04%
-0.59%
9.01%
1.86%
-0.40%
-2.34%
2.04%
2.38%
-6.72%
1.27%
2.61%
-2.50%
9.69%
-0.69%
-0.32%
-9.03%
-4.89%
-0.41%
6.44%
2.72%

California
REIT
-28.26%
-3.03%
8.75%
-1.47%
-1.49%
-9.09%
10.67%
-9.38%
10.34%
-14.38%
-14.81%
-4.35%
-5.45%
5.00%
9.52%
-0.87%
0.00%
4.55%
3.48%
0.00%
-13.04%
0.00%
1.50%
-2.56%

Brown
Group
9.16%
0.73%
-0.29%
2.21%
-1.08%
-0.65%
2.22%
0.00%
1.88%
-7.55%
-12.84%
-1.70%
-15.21%
7.61%
1.11%
-0.51%
12.71%
3.32%
3.17%
-14.72%
-1.91%
-12.50%
17.26%
-8.53%