Public pension fund assets rose a median 8.05% in the fourth quarter and 11.63% for 2004, according to Wilshire Associates' Trust Universe Comparison Service. Corporate plans posted median gains of 7.98% for the quarter and 11.79% for the year, while endowments and foundations returned a median 8.3% for the quarter and 11.97% for the year.
Gains were driven mostly by a rally in stocks, as the Dow Jones Wilshire 5000 rose 8.3% in the fourth quarter, according to Wilshire. Overall, TUCS funds with equity allocations of more than 60% rose 11.8% in the year, while funds with allocations of less than 40% gained 5.85%.
TUCS includes 350 corporate and public plans as well as endowments and foundations, representing about $2 trillion in assets.