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Three Months Ended
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(unaudited)
Year Ended December 31
March 31, March 31, --------------------------------------------------------
2000 1999 1999 1998 1997 1996 1995
----------- ----------- ----------- ------------ ----------- --------- ---------
Per Share Operating Performance
Net asset value, beginning of period $40.28 $32.54 $32.54 $28.51 $23.71 $21.36 $17.98
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Net investment income 0.06 0.10 0.37 0.45 0.43 0.52 0.50
Net realized gains and change in
unrealized appreciation and other changes 3.08 0.83 9.82 5.68 6.33 3.55 (4.54)
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Total from investment operations 3.14 0.93 10.19 6.13 6.76 4.07 (5.04)
Less distributions
Dividends from net investment income (0.05) (0.06) (0.39) (0.45) (0.44) (0.52) (0.52)
Distributions from net realized gains (0.07) (0.06) (2.06) (1.65) (1.52) (1.20) (1.14)
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Total distributions (0.12) (0.12) (2.45) (2.10) (1.96) (1.72) (1.66)
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Net asset value, end of period $43.30 $33.35 $40.28 $32.54 $28.51 $23.71 $21.36
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Per share market price, end of period $37.375 $27.125 $33.5625 $26.625 $24.1875 $19.75 $18.50
Total Investment Return
Based on market price 11.8% 2.3% 36.1% 19.3% 33.1% 16.4% 29.5%
Based on net asset value 7.9% 3.0% 33.6% 23.7% 30.7% 21.0% 29.9%
Ratios/Supplemental Data
Net assets, end of period (in 000's) $2,303,559 $1,730,306 $2,170,802 $1,688,080 $1,424,170 $1,138,760 $986,231
Ratio of expenses to average net assets 0.50%+ 0.25%+ 0.32% 0.22% 0.39% 0.34% 0.46%
Ratio of net investment income to average
net assets 0.63%+ 1.17%+ 1.06% 1.48% 1.61% 2.30% 2.51%
Portfolio turnover 13.75%+ 26.21%+ 15.94% 22.65% 17.36% 19.60% 23.98%
Number of shares outstanding at end of
period (in 000's) 53,204 51,877 53,895 51,877 49,949 48,037 46,166
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†Ratios presented on an annualized basis.
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