InvestorForce Plan Universes funds had a median net return of 5% in 2014. The median return gross of fees was 5.4%.
For the quarter ended Dec. 31, the median net return of the firm's aggregate universes was 1.34%, vs. a gross return of 1.54%.
Net returns for the three- and five-year periods ended Dec. 31 were 10.18% and 8.53%, respectively.
Corporate defined benefit plans topped the list in terms of performance in 2014 with a median net return of 7.95%. Taft-Hartley DB plans were second (6.14%), followed by public DB plans (5.5%), endowments (4.4%) and foundations (4.26%).
Corporate pension funds benefited from their higher allocations to fixed income in lieu of higher alternatives. The median allocation to fixed income among corporate DB plans as of Dec. 31 was 41% — far higher than other universes.
The Barclays Capital U.S. Aggregate Bond index returned 6% in 2014, while the median return for alternatives for InvestorForce Plan Universes was 4.4% for the year.
The Russell 3000 stock index returned 12.53%, while the MSCI ACWI IMI ex-U.S. dropped 3.3% in 2014.
