US - Taft Hartley funds with assets greater than $1bn have reported the worst one-year median return at -15.45% in a comparison of institutional assets.
The median performance of corporate pension plans was -15.44% for the year and -8.53% for the quarter, while public pension funds median performance was -14.43% for the year and -8.17% for the third quarter.
The quarterly media return for Taft Hartley funds was -5.82% with the one-year at -11.45%, while the median rate of return for public pension plans with assets greater than $5bn was -14.88% and -8.89% for the quarter.
"There were few investment categories immune from the effects of the worldwide market turmoil of the third quarter, so even large plans with the most diversified portfolios saw their performance negatively impacted in a way we haven't seen since the third quarter of 2002," said Hilarie C. Green, CFA, managing director and head of Wilshire Analytics' Performance Reporting division.
"In fact, the larger plans under-performed their broad universe peers in all sponsor-specific universes except the endowment and foundation universe where the larger plans continued their better relative performance for both the quarter and the one-year periods."
Wilshire TUCS, a benchmark for the performance of institutional assets, includes nearly 1,200 plans representing $2.85trn in assets.
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