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Investing November 6, 2008
Foundations and Endowments Hardest Hit in Q307
November 6, 2008 (PLANSPONSOR.com) - Institutional
investors saw the performance of their portfolios drop
sharply in the third quarter of 2008, with foundations and
endowments having the worst median quarterly performance of
-9.37%, according to the Wilshire Trust Universe Comparison
Service (Wilshire TUCS).
Reported by Rebecca Moore
Taft Hartley funds with assets greater than $1 billion reported the worst one-year median return at -15.45 percent, Wilshire said in a press release. Among all Taft Hartley funds the quarterly median return was -5.82% with the one-year return at -11.45%.
The one-year median performance for foundations and endowments was -14.88%.
The median performance of all master trusts for the year ended September 30, 2008, was -13.79%, with a quarterly return of – 8.05%. The median performance of corporate pension plans was -15.44% for the year and -8.53% for the quarter, while public pension funds reported – 14.43% for the year and -8.17% for the quarter.
Wilshire TUCS includes nearly 1,200 plans representing $2.85 trillion in assets.