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SSU up 5.3% in Q4 2010

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The median return of the State Street Universe (SSU) of total plans rose 5.3% in the fourth quarter of 2010, according to figures released by the company. For the year ended December 31, 2010, the universe earned 12.4%.

 

The SSU consists of a diverse range of funds custodied at State Street and funds provided by the Independent Consultants Cooperative (ICC). It includes the total plans of a wide range of plan sponsors and the individual funds that comprise each plan. The approximately 19,000 portfolios in the State Street Universe constitute a combined asset value of nearly USD2 trillion.

In 2010, master trust funds of greater than USD1 billion returned 12.7%, slightly higher than smaller master trust funds, which returned 12.2%. Taft Hartley Plans were up 13.6%, with the highest returns for the year ending December 31, 2010 while Corporate Plans gained 13.1%. Endowments & Foundations trailed behind the other funds, rising 12.4%. In the fourth quarter, Taft Hartley Plans also had the highest returns in the fourth quarter, up 6.1%.

“Master Trusts posted strong gains in 2010 following the robust recovery in 2009 and are coming close to recovering the losses experienced in 2008," says William Pryor, senior vice president and head of State Street Investment Analytics. "Funds with higher exposure to equities did best as both US and foreign equities continued to perform well."

US Equity Funds rose 11.8% in the fourth quarter. For the year ending December 31, 2010, International Emerging Market Equity funds rose 19.4%, followed by US Equity Funds which gained 17.8%. Other types of equity funds also showed gains: International Developed Market Equity Funds rose 10.5% and Global Equity Funds rose 13.7%. Fixed Income Funds were flat in the fourth quarter, but rose over the last 12 months, with Global Fixed Income Funds up 8.7% and US Fixed Income Funds gaining 8.0%.

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