US - International equity outperformed and US small caps comfortably outperformed US large caps in the last quarter, Mercer Investment Consulting has found.
The MSCI EAFE Index gained 10.4% and beat its US large cap counterpart for the quarter by 370 basis points, and a massive 1,050bps in the last year.
Meanwhile, US small caps beat their large cap counterparts by 140 basis points over the fourth quarter.
The quarter was a positive one for institutional investors, as the median corporate plan had a fourth-quarter gain of 5.7%. Public plans and foundation/ endowment funds gained 5.8% and 6.1%, respectively.
On a one-year basis, corporate plans had average gains of 13.3%, while public plans and foundation/endowment plans earned 14.3% and 14.4%, respectively.
Over a 10-year timeframe, all three plan types have averaged between 8.8% and 9.8% on an annualised basis.
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
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