Moreover, the return on aggregate capital may not be a good guide to the returns that investors can actually expect.
Emerging markets saw a return on aggregate capital of 13.3% over the 1994-2003 period, compared with 7.8% in the G7 group of industrialised nations.
Bond investors did even worse against the Barclays Capital Aggregate Bond Index, Dalbar says.
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The current interest rate on investment grade bonds, as measured by the Barclays Capital Aggregate Bond Market index is 2.0 percent.
Mr. Gross's fund returned 4.16% for the year, its worst performance since 2006 and far behind the benchmark Barclays Capital Aggregate Bond Index's 7.84% gain, according to Morningstar.
The aggregate tier one common capital ratio - assets held in reserve as a buffer against financial troubles - would fall from an actual 11.1% in the third quarter of 2012 to 7.7% in the fourth quarter of 2014 in the hypothetical stress scenario.
The results will contain estimated losses by exposure category, pre-provision net revenue, changes in loan loss reserves, total assets, aggregate loan balances and anticipated capital distributions over the time horizon.
In 1991 Chile imposed an implicit tax on inflows of short-term capital to reduce the aggregate inflow.
The good news is that big banks probably now have enough capital to absorb the aggregate loss rate suffered by the system from 2007 to 2009 (although their build-up of liquidity reserves has been patchier).
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The Barclays Capital U.S. Aggregate Bond Index is an investment-grade domestic bond index.
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Countries' access to private capital is more limited than aggregate figures would suggest.
That is enough to gobble nearly one-third of the recent 1.94% yield on the Barclays Capital U.S. Aggregate Bond Index.
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The Barclays Capital U.S. Aggregate Bond Market Index and the newer U.S. Aggregate Float Adjusted Index are composed of investment grade U.S. bonds.
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The fund posted a return of 5.75% through Friday, beating the 2.37% on the Barclays Capital U.S. Aggregate Bond Index, according to data from Morningstar.
The fund had handed investors a return of 3.79% this year through Monday, compared with 7.86% on the Barclays Capital U.S. Aggregate Bond Index, according to Morningstar.
Pimco Unconstrained, meanwhile, launched in June 2008, has returned an annualized 7% in the three years through August, versus a 7.2% return for the Barclays Capital U.S. Aggregate Bond Index.
As of November 30, 2012, such instruments4 offered yields that were 3.83% higher than the Barclay Capital U.S. Aggregate Bond Index, and 3.32% above the Consumer Price Index, a key gauge of consumer inflation.
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And banks in aggregate had entered the crisis in good shape, with much more capital this June than in 1990.
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