The median fund in the Russell/Mellon U.S. Master Trust Universe posted a -0.09% return in the second quarter, ending four straight quarters of positive returns, according to a news release from Russell/Mellon. Nearly half of the 513 plans in the universe, which together have about $1.3 trillion in assets, posted positive returns for the period. Foundations and endowments returned 0.09%; Taft-Hartley plans, 0.02%; corporate plans, -0.1%; and public plans, -0.15%.
The average asset allocation for the universe was 42% U.S. equity; 24% U.S. fixed income; 19% non-U.S. equity; 6% alternatives; 3% real estate; 1% each non-U.S. fixed income and cash; and 4% other, which includes private equity, oil and gas investments.
