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MONEY SMALL INVESTOR INDEX: INVESTORS RACK UP BEST PROFITS OF '92

 MONEY SMALL INVESTOR INDEX: INVESTORS RACK UP BEST PROFITS OF '92
 /ADVANCE/ NEW YORK, Sept. 27 /PRNewswire/ -- Small investors are enjoying their biggest profits of the year in the third quarter, which ends this week, according to Money magazine's Small Investor Index.
 Strong gains in stocks and bonds have propelled small investors' portfolios to a 2.9 percent, or $1,281, projected gain for the quarter. That's equivalent to a 12 percent annual return, or three percentage points more than the annual rate that small investors have averaged over the past two decades.
 By contrast, individual investors earned only 1.5 percent in 1992's first quarter and less than 0.2 percent in the second quarter. Overall, the average portfolio is up 4.6 percent so far this year, which is equivalent to a 6.2 percent annual rate.
 Stocks, which make up 35 percent of the average portfolio, were the biggest gainers of the third quarter with a 4.9 percent, or $767, profit. Small stocks, up 6.9 percent, outperformed big stocks, up 4.6 percent.
 Bonds, 24.6 percent of the portfolio, provided a solid 3.5 percent, or $379, gain as long-term Treasury rates fell from 7.75 percent to 7.36 percent. Taxable bonds were the best performers with a 4.2 percent return, while municipals gained 2.3 percent.
 Cash assets, 39.2 percent of the portfolio, chipped in 0.8 percent, or $149, as yields on CDs and money funds dropped from 3.6 percent to 2.9 percent.
 The sole assets to post losses for the quarter were gold and real estate, which fell 2.1 percent and 2.9 percent, respectively. But since they make up only 1.3 percent of the typical portfolio, they cost investors a mere $15.
 Last week, Money's Small Investor Index, which tracks the value of the average individual's portfolio, fell $87 to $45,831. Stocks and bonds each dropped $47. CDs and money funds contributed $11.
 This Last Year % Change from a
 Week Week Ago Week Ago Year Ago
 104.59 104.79 96.67 -0.19% +8.19%
 Latest Changes for Each Asset
 % Change from a
 Category Index Week Ago Year Ago
 Stocks:
 NYSE 105.72 -0.28% +11.61%
 ASE/OTC 104.76 -0.32 +11.19
 Equity funds 104.16 -0.31 +8.84
 Bonds:
 Taxable bonds 107.13 -0.21 +12.16
 Municipals 106.38 -0.93 +9.89
 Bond funds 106.60 -0.26 +11.09
 Cash:
 CDs 103.22 +0.07 +4.58
 Money funds 102.57 +0.05 +3.75
 Other:
 Real estate 93.20 -0.26 -9.51
 Gold 92.13 -1.24 -6.05
 Dec. 27, 1991 equals 100
 Where Average Small Investors Have Their Money Now
 Current Year Ago Current Year Ago
 NYSE 22.16% 21.94% Bond funds 6.19% 4.94%
 ASE/OTC 7.00 6.93 CDs 14.99 18.33
 Equity funds 5.79 4.57 Money funds 24.18 22.34
 Taxable bonds 11.49 12.30 Real estate 0.78 0.79
 Municipals 6.89 7.30 Gold 0.51 0.56
 Sources: Bank Rate Monitor, IBC/Donoghue's Money Fund Report, the Federal Reserve, Investment Company Institute, Lehman Bros., Lipper Analytical Services, Merrill Lynch, Morgan Stanley Capital International, National Association of Real Estate Investment Trusts, Prudential Asset Management, Standard & Poor's, Robert Stanger & Co., World Gold Council.
 -0- 9/28/92
 /NOTE TO EDITORS: This material is also available in printable form from AP GraphicsNet and Access services for graphics and tables (under the file name MoneyIndex) and from PR Newswire for full text./
 /CONTACT: Jordan Goodman of MONEY, 212-522-3618, or Patti Straus of MONEY public relations, 212-522-2695/ CO: ST: IN: SU: ECO


GK -- NY045 -- 3556 09/25/92 14:16 EDT
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Date:Sep 25, 1992
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