Master trusts in the Wilshire Trust Universe Comparison Service had a median -0.06% return in the second quarter, the first negative quarter since the second quarter last year.
However, the universe still showed strong one- and three-year returns with medians of 11.31% and 10.63%, respectively.
Corporate defined benefit plans were the sole institutional segment with negative performance, returning a median -0.71% for the quarter. Taft-Hartley DB plans were the top performers with a median return of 0.38%, followed by public pension plans, 0.24%; and foundations and endowments, 0.03%.
It was the same order for one-year median returns with Taft-Hartley plans at 12.6%, followed by public plans, 12.4%; foundations and endowments, 11.28%; and corporate plans, 10.11%.
Corporate DB plans with more than $1 billion in assets were the worst performers for the quarter and year, with median returns of -0.75% and 9.79%, respectively. Foundations and endowments with more than $500 million in assets had the top returns at 0.61% and 12.79%, respectively. That group was also the only segment to post 10-year annualized returns greater than 8%, with a median return of 8.35%. The median 10-year return for all plans was 6.92%.