State Street Corporation (NYSE:STT), one of the world’s leading providers of financial services to institutional investors, today announced that the median return of the State Street Universe (SSU) of total plans lost 1.6 percent in the second quarter 2012. For the year ended June 30, 2012, the universe rose 1.2 percent. The SSU consists of a diverse range of funds custodied at State Street and funds provided by the Independent Consultants Cooperative (ICC). It includes more than 1,000 total plans of a wide range of plan sponsors and the individual funds that comprise each plan. The 21,000 portfolios in the State Street Universe constitute a combined asset value of nearly $2.2 trillion.
In both the second quarter and year ended June 30, 2012, total plans greater than $1 billion outperformed smaller plans. In the second quarter larger plans were down 1.5 percent versus a 1.7 percent loss for smaller plans, and for the year, larger plans gained 1.5 percent versus 1.1 percent for the smaller plans. Of the plan types, Corporate plans fared best. They had the smallest loss for the quarter, down 1.6 percent, and rose 2.0 percent for the year. Taft Hartley plans lost the most in the second quarter, down 2.0 percent. Endowments & Foundations had the smallest gains for the full year, up 0.5 percent, followed closely by Taft Hartley plans, which were up 0.6 percent.
The State Street Universe (SSU)
|Periods Ending June 30, 2012||Median Return|
|Universe Name||One Quarter||One Year||Three Years||Five Years|
|Master Trust Funds||-1.6||1.2||10.8||2.0|
|Master Trust Funds > $1 Billion||-1.5||1.5||11.5||1.8|
|Master Trusts < $1 Billion||-1.7||1.1||10.7||2.2|
|Corporate Plans (DB)||-1.6||2.0||12.1||2.2|
|Endowments & Foundations||-1.8||0.5||10.7||2.1|
|Public Funds (DB)||-1.9||1.0||11.3||1.9|
|Taft Hartley Plans (DB)||-2.0||0.6||10.8||1.6|
Fixed income funds fared best in both the second quarter and the twelve months ended June 30, 2012. US fixed income funds gained 2.0 percent in the quarter and 7.2 percent for the year. Global fixed income funds also posted gains, up 1.0 percent in the quarter and 4.2 percent for the year. US equity funds outperformed international equity funds in both the second quarter and the year ending June 30, 2012 and international developed market equity funds outperformed emerging market equity funds. For the quarter ended June 30, 2012, US equity funds were down 4.0 percent while international developed market equity funds lost 6.9 percent and international emerging market equity funds fell 8.1 percent. For the year ended June 30, 2012, US equity funds were up 0.6 percent while international developed market equity funds lost 13.0 percent and emerging market equity funds dropped 15.2 percent. Hedge funds posted modest declines, losing 0.8 percent in the second quarter and 1.0 percent for the year ended June 30, 2012.
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