Retirement plans, endowments and foundations in the State Street master trust universe had a median return of 5% in the fourth quarter and a modest 1% median gain for 2011.
U.S. equity funds had the best median returns for the quarter, at 12.1%, while global equity funds were up 6.1% and international developed and emerging markets each saw median gains of 4%, according to a news release from State Street Corp.
For the year, U.S. equities returned a median -0.1%, outpacing global equity at -7.7%; international developed markets, -12.2%; and emerging markets, -18%.
U.S. fixed income returned a median 1.4% for the quarter, compared to 1.1% for global fixed income.
For the year, U.S. fixed income returned a median 6.1%; global fixed income, 5.2%.
Hedge funds returned a median 0.2% for the quarter, but were down 1.6% for the year.
Corporate and public plans returned a median 5.3% for the quarter; Taft-Hartley plans, 5.9%; and foundations and endowments, 4.9%.
For the year ended Dec. 31, corporate plans had the highest median returns at 1.2%, followed by public plans, 1.1%; Taft Hartley plans, 0.8%, and foundations and endowments, -0.3%.
The State Street Universe of retirement plans, endowments and foundations consists of 21,000 portfolios with a combined asset value of $2.5 trillion.
Arlene Roberts, State Street spokeswoman, said no one from State Street Investment Analytics, which put together the report was available for comment by press time.