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.
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