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Institutional Plans See 2009 Improvement
A State Street news release said the latest year-over-year figure represents a significant improvement from the 24.6% loss in 2008.
Plans smaller than $1 billion outperformed larger plans in 2009 (19.8% vs. 17.6%). Endowments & Foundations had the highest returns for the year (up 21.3%), while Public Funds and Taft Hartley gained only 18.5% and 18.4%, respectively.
International Emerging Market Equity funds rebounded sharply in 2009, rising 77% after decreasing 51.1% in 2008. Other types of equity funds also performed strongly: International Developed Market Equity Funds rose 33.4% and U.S. Equity Funds, 30.1%.
State Street said fixed income funds also did well in 2009: Global Fixed Income Funds were up 17.8% and U.S. Fixed Income Funds gained 11.8%. Real Estate funds lost 28.8% in 2009, but were down only 1.5% in the fourth quarter.
The State Street Universe (SSU) consists of North American funds custodied at State Street and funds provided by the Independent Consultants Cooperative.