State Street Investment Analytics Announces Master Trusts Gained 3.4% in the First Quarter 2010
May 04 2010 - 12:00PM
Business Wire
State Street Corporation (NYSE:STT), one of the world’s leading
providers of financial services to institutional investors, today
announced that the median return of its universe of total plans
rose 3.4% in the first quarter of 2010, in line with the 3.1% gain
in the fourth quarter of 2009. For the year ended March 31, 2010,
the universe earned 30.0%. The State Street Universe (SSU) consists
of a diverse range of funds custodied at State Street and funds
provided by the Independent Consultants Cooperative (ICC). It
includes the total plans of a wide range of plan sponsors and the
individual funds that comprise each plan. The approximately 20,000
portfolios in the State Street Universe constitute a combined asset
value exceeding $2 trillion.
Master trust funds of less than $1 billion returned 30.8%,
slightly higher than larger master trust funds, which returned 29%.
Corporate Plans were up 32.6%, with the highest returns for the
year ending March 31, 2010 while Taft Hartley and Public Funds
gained only 30.3% and 30.4%, respectively. For the quarter, plan
results all fell within a narrow range.
US Equity Funds rose 6.1% in the first quarter, leading other
types of funds. For the year ending March 31, 2010, International
Emerging Market Equity funds rebounded sharply, rising 82.0% after
plummeting 48.4% in the prior year. Other types of equity funds
also showed strong performance: International Developed Market
Equity Funds rose 54.7%, Global Equity Funds rose 54.0% and US
Equity Funds rose 53.6%. Fixed Income Funds also did well over the
last 12 months, with Global Fixed Income Funds up 20.8% and US
Fixed Income Funds gaining 14.1%.
Final results for Private Equity and Real Estate Funds were
reported with Real Estate Funds losing 28.6% and Private Equity
Funds losing 5.7% as of December 31, 2009. For the fourth quarter
2009, Private Equity funds earned 2.6% while Real Estate Funds lost
2.4%.
State Street’s Investment Analytics team offers services through
global locations including Alameda, Amsterdam, Boston, Dublin,
Edinburgh, Frankfurt, London, Luxembourg, New York, Paris, Sydney,
Toronto and Zurich. It calculates performance for over 1100 clients
globally on asset volumes exceeding $6.5 trillion.
The Independent Consultants Cooperative is a consortium of
independent investment consulting firms that deliver superior
value-added products to their clients. The ICC is currently
comprised of thirteen well-established firms located across the
country that collectively consult to 10% of the industry’s
institutional assets. In order to avoid conflicts of interest, none
of the ICC member firms offers investment management services.
Rather, the ICC focuses solely on the continuous refinement of
investment consulting products, systems and diagnostic databases
for the collective benefit of their clientele. For more information
about the Independent Consultants Cooperative and its member firms,
visit the web site at www.icc-group.com
About State Street
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment servicing, investment management, and
investment research and trading. With $19 trillion in assets under
custody and administration and $1.9 trillion in assets under
management at March 31, 2010, State Street operates in 25 countries
and more than 100 geographic markets worldwide. For more
information, visit State Street at www.statestreet.com.
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