Corporate pension funds were the top performers for the third quarter, returning a median -7.94% among funds in the Wilshire Trust Universe Comparison Service.
Public pension funds returned -8.94%; Taft-Hartley defined benefit plans, -9.03%; and foundations and endowments, -9.24%.
The return for all master institutional trusts for the quarter was -8.64%.
For the year ended Sept. 30, corporate funds led with a median return of 1.98%, followed by public funds, 1.31%; Taft-Hartley plans, 1.18%; and foundations and endowments, 0.71%.
While foundations and endowments as a whole performed the most poorly in one-year returns, those with more than $500 million in assets had the highest one-year median return of all categories, at 3.31%.
Foundations and endowments also had the highest median allocation to equities, at 52.84%. Allocations by foundations and endowments to domestic equities were a median 33.55% and international equities, a median 16.06%.
Public funds had a median allocation to equities of 51.75%, followed by corporate funds at 51.42% and Taft-Hartley plans at 49.57%.
Wilshire TUCS includes about 900 plans with $2.92 trillion in assets.