Taft-Hartley pension plans were the top performers in 1995 with a median return of 29.6%, according to data compiled by SEI Capital Resources. Next were corporate pension funds with more than $100 million in assets, which returned 27.5%. Corporate funds with less than $100 million returned 27.1%.
Jim Greene, director of the product/research group at SEI, speculates the union funds' good performance might have to do with their smaller weightings in non-U.S. markets. In 1995, international markets were up significantly less than the U.S. stock market.
Among other tax-exempt funds: endowments and hospitals returned 26.6%; local governments, 26.1%; state funds, 23.5%; and foundations, 25.6%.
