The median return of total plans at State Street Universe (SSU), a subsidiary of Boston-based State Street Corp., increased 8 percent in the third quarter after a 4.4 percent loss in the second quarter.
For the 12-month period ending Sept. 30, the SSU returned 10.1 percent, according to a statement. The SSU consists of approximately 1,100 total plans of a range of plan sponsors and the nearly 20,000 individual funds that comprise each plan. The combined asset value of the portfolios in the SSU exceeded $1.8 trillion as of Sept. 30.
In the third quarter, master trust funds of greater than $1 billion returned 8.2 percent, slightly higher than smaller master trust funds, which returned 8 percent, according to a statement. Corporate plans were up 10.7 percent and Taft Hartley plans gained 10.2 percent. For the quarter, plan results ranged from 8 percent (endowments and foundations) to 8.7 percent (corporate plans).
International emerging market equity funds rose 19.1 percent in the third quarter, according to a statement, and U.S. equity funds gained 11.3 percent. International development market equity rose 16.2 percent and global equity funds rose 14.5 percent.
Both U.S. fixed income funds and global fixed income funds increased 10.2 percent in the third quarter. Global fixed income funds gained 7.5 percent while U.S. fixed income funds rose 3.1 percent.