The median return of the State Street Master Trust Universe rebounded in the third quarter, gaining 8% following a 4.4% loss in the previous quarter.
The universe’s median return for the year ended Sept. 30 was 10.1%, according to a State Street news release. For the year ended June 30, the median return was 13.1%.
Emerging markets equities had the top performance among the asset classes reviewed in both the quarter and year ended Sept. 30, at 19.1% and 20.2%, respectively. International developed markets equities were second for the quarter at 16.2%, but only garnered a 5.8% return for the year ended Sept. 30. Global equity returned 14.5% for the quarter and 9% for the year; U.S. equity, 11.3% and 11.8%, respectively; global fixed income, 7.5% and 10.2%; U.S. fixed income, 3.1% and 10.2%; and hedge funds, 2.7% and 6.2%.
Corporate plans returned 8.7% for the latest quarter, followed by public plans at 8.4%; Taft-Hartley plans, 8.2%; and endowments and foundations, 8%.
The universe consists of about 20,000 portfolios with a combined asset value of more than $1.8 trillion as of Sept 30.