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Bringing you news, views and analysis since 2013

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State Street Universe plans rise by eight per cent in Q3

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The median return of the State Street Universe of total plans rose 8.0 per cent in the third quarter of 2010, following the 4.4 per cent loss in the prior quarter.

For the 12 month period ending 30 September, the universe returned 10.1 per cent.

The SSU consists of a range of funds custodied at State Street and funds provided by the Independent Consultants Cooperative. It consists of approximately 1,100 total plans of a wide range of plan sponsors and the nearly 20,000 individual funds that comprise each plan.

In the third quarter, master trust funds of greater than USD1bn returned 8.2 per cent, slightly higher than smaller master trust funds, which returned 8.0 per cent.

Corporate plans were up 10.7 per cent, with the highest returns for the year ending 30 September 2010, while Taft Hartley Plans gained 10.2 per cent.

For the quarter, plan results ranged from 8.0 per cent (endowments and foundations) to 8.7 per cent (corporate plans).

Equity funds rebounded strongly in the third quarter, more than offsetting second quarter losses. International emerging market equity funds rose 19.1 per cent in the third quarter, while US equity funds gained 11.3 per cent. International development market equity rose 16.2 per cent and global equity funds rose 14.5 per cent.

For the 12 month period ending 30 September 2010, international emerging equity funds again had the highest returns, rising 20.2 per cent, while international developed market equity funds had the smallest gains, rising 5.8 per cent. US equity funds rose 11.8 per cent and global equity funds rose 9.0 per cent.

Fixed income funds performed well over the last 12 months, with both US fixed income funds and global fixed income funds up 10.2 per cent. In the third quarter, global fixed income funds gained 7.5 per cent while US fixed income funds rose 3.1 per cent.

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