The median corporate pension plan gained 1% in the first quarter, according to a Mercer Investment Consulting survey. Public plans and foundation/endowment funds each had returns of 1.2%. For the year ended March 31, corporate plans returned 3.2%, outperforming public plans and foundation/endowments funds by 50 and 10 basis points, respectively.
Value-oriented money managers overall had a strong first quarter relative to growth managers. Large-cap value managers were up 3.5%, and small-cap value managers gained 9.4%. Domestic growth managers were down an average 2.4% in the first quarter.