The State Street master trust universe had a median investment return of 1.1% in the second quarter —down from 3.5% three months earlier — and 19.4% for the year ended June 30.
According to a news release from State Street Corp., developed markets had the best median equity returns for the quarter, at 1.6%, while U.S. equity returns were flat and emerging markets declined 0.8%.
For the year, U.S. equities returned a median 33.5%; developed market equities, 30.5%; and emerging markets equities, 28.2%.
Global fixed income returned a median 2.7% for the quarter, compared to 2% for U.S. fixed income.
For the year, global fixed income returned a median 12.2%; U.S. fixed income, 5.7%.
The State Street Universe of retirement plans, endowments and foundations consists of 20,000 portfolios with a combined asset value of $2.3 trillion.
William Pryor, senior vice president and head of State Street Investment Analytics, was not available for comment.