US - Strong gains in domestic and international equity markets boosted institutional fund performance in Q3 of 2005, Northern Trust data has found.
The Northern Trust universe, which represented the performance of more than 300 institutional investment plans with a combined asset value of US$390bn, also found that the funds’ performance was slightly ahead of the overall US stock market for the period.
Joe Nardulli, product manager at Northern Trust investment risk and analytical services, said: “With the MSCI EAFE index returning better than 10% for the quarter and all US broad market indices gaining at least 3%, the equity portion of virtually all plans was the driving force behind the solid gains. Total equity programs for all plans posted 6.1% at the median.”
The data showed ERISA and public fund plans had median returns of 4.2% and 4.1%, respectively. Foundations and endowment plans gained 4.4% at the median. All plans posted positive performance for the period.
Over a one year period, ERISA and public fund plans returned 14.1% and 14.5%, respectively, at the median. Foundations and endowments returned 14.7% over the same time period.
ERISA and public funds both returned 15.6% at median over three years and 4.2% and 4.9%, respectively, over five years. Foundations and endowments also returned 15.6% at median over three years and 4.6% over five years.
As of 30 June 2005, Northern Trust had assets of $590bn under investment management.
Northern Trust has announced that it’s assets under management have increased to US$607bn during the third quarter of 2005 - a rise of 14%.
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