Public funds were the top performers in the fourth quarter among institutional master trusts in the Trust Universe Comparison Service, with a median return of 6%.
Overall, institutional master trusts had a median return of 5.79% for the quarter ended Dec. 31, according to data from Wilshire.
Foundation and endowment funds returned a median 5.95%; corporate funds, 5.73%; and Taft-Hartley funds, 5.58%.
Public funds had the highest median allocation toward equities of the four groups, with 59.27%. Domestic equities were a median 40.16% and international equities, 14.64%.
The overall median equity allocation was 57.95%, with domestic equities at 38.14% and international equities, 14.46%.
For the year ended Dec. 31, corporate funds had the highest median return, 13.19%, with public funds at 12.94%; foundations and endowments, 12.5%; and Taft-Hartley funds, 12.02%.
The median return for institutional master trusts overall was 12.72%.
Wilshire TUCS includes about 900 plans with assets totaling $2.5 trillion.