US - Public pension funds had the best returns in a poor first quarter of 2008 which saw institutional investors loose an average -5.28% on their investments, according to Wilshire Associates.
Hilarie C Green, managing director and head of Wilshire Analytics' performance reporting division, said: "The performance we saw in the first quarter was expected based on market turmoil globally."
Green continued: "Here in the US, the equity market suffered its worst quarterly loss since the third quarter of 2002 with the Dow Jones Wilshire 5000SM posting a -9.52% return as the first three months of the year each returned negative results."
Larger public and company-run pension plans with over $1bn in assets fared marginally better than the average corporate scheme.
The average equity holding for all schemes was 57.83% of the portfolio, with a sliding upward scale from a smaller exposure leading to a better return in Q1 2008.
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