The median master trust in the Independent Consultants Cooperative universe gained 2% in the fourth quarter and 7.1% for the year ended Dec. 31, confirmed Jay Morgan, ICC senior consultant. The median U.S. equity portfolio gained 7.5% for the year and the median U.S. bond portfolio returned 2.8%; for the quarter, the portfolios increased 2.1% and 0.6%, respectively.
The median equity portfolio for developed markets was up by 15.3% for the year, while emerging markets equities surged 33.2%. In the quarter, the developed markets portfolio increased 4.3% while the emerging markets portfolio advanced 6.9%.
ICC is a group of 17 consulting firms; its universe is administered by State Street Corp. and includes 20,000 portfolios with an aggregate market value of $1.7 trillion.