US - Corporate pension funds outperformed all other institutional investors in the quarter ending June 30, according to data from consulting firm Wilshire Associates.
The median return for the corporate pension plans tracked in the Wilshire Trust Universe Comparison Survey was 10.93%. The median public fund returned 10.86%; foundations and endowment, 10.66%; and Taft Hartley, or union, fund, 7.55%.
The median asset allocation for corporate pension funds was: 53.5% in equities, 35.02% in bonds and 2.71% in cash.
In the one year period, however, Taft Hartley funds performed best with the median scheme posting returns of -16.08%, Wilshire data showed. The median corporate fund was down 16.84%, public fund, -17.06% and the median foundation and endowment was down 19.14% for the year.
The median Taft Hartley plan invested 47.84% in equities, 36.47% in bonds, 9.04% in real estate and 2.39% in cash.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.