Definition of 'Lipper Indexes'
A series of indexes that tracks the financial performance of different types of mutual funds. Lipper, which is owned by Reuters, allows investors to benchmark the performance of a mutual fund investment against an index of 30 funds that also belong in that investment category.
Investopedia explains 'Lipper Indexes'
Lipper creates indexes for each major investment style, such as small- or large-cap funds, value funds and growth funds. Much like the S&P 500 allows stock investors to compare their returns to a market benchmark, a Lipper index aggregates the 30 biggest funds of a given investment style.
For example, an investor could compare the performance of a small-cap mutual fund against the Lipper Small-Cap Index, which would combine the 30 biggest small-cap funds, based on asset size.