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State Street Investment Analytics Announces Master Trusts Universe Results For Third Quarter 2012

State Street Corporation (NYSE: STT), today announced that the median return of the State Street Universe (SSU) of total plans gained 4.5 percent in the third quarter 2012. For the year ended September 30, 2012, the universe rose 15.8 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 approximately 900 total plans of a wide range of plan sponsors and the individual funds that comprise each plan. The 18,000 portfolios in the State Street Universe constitute a combined asset value of more than $2.3 trillion.

In the third quarter, total plans less than $1 billion edged out larger plans gaining 4.6 percent versus 4.5 percent, but for the year ended September 30, 2012 they outperformed larger plans by 0.3 percent rising 16.1 percent versus 15.8 percent. Corporate plans continued to outpace other plan types. They earned 5.0 percent in the third quarter and 17.4 percent for the year ending September 30, 2012. They also led the other plan types in the three- and five year periods, returning 9.5 percent and 2.8 percent, respectively. Endowments & Foundations lagged behind other plan types over the same periods. They gained 4.5 percent in third quarter (slightly below Public Funds) and 15.2 percent in the year ending September 30, 2012.

The State Street Universe (SSU)

Periods Ending September 30, 2012

Median Return

Universe Name

One Quarter

One Year

Three Years

Five Years
Master Trust Funds         4.5         15.8         8.9         2.5
Master Trust Funds > $1 Billion         4.5         15.2         9.4         2.2
Master Trusts < $1 Billion         4.6         16.1         8.9         2.7
Corporate Plans (DB)         5.0         17.4         9.5         2.8
Endowments & Foundations         4.5         15.2         8.9         2.2
Public Funds (DB)         4.6         16.4         9.2         2.4
Taft Hartley Plans (DB)         4.7         17.1         9.2         2.4

International and global equity and fixed income funds outperformed their US funds counterparts in the third quarter. International emerging market funds had the highest returns, rising 7.4 percent, but did not wipe out their second quarter loss of 8.0 percent, while international developed market funds gained 7.2 percent. US equity funds were up 6.2 percent. For the year ended September 30, 2012, US equity funds’ strong performance of 30.1 percent was more than 10 percent higher than international funds. International emerging market funds rose 17.6 percent and international developed market funds were up 16.2 percent. Over the last three and five years, US equity funds also outperformed international funds, posting a strong 13.3 percent return for the three year period – more than double the return of international funds – and a gain of 2.1 percent for five years versus losses for the international funds. Global fixed income funds outperformed US fixed income funds in both the third quarter and the year ending September 30, 2012. They earned 4.2 percent in the third quarter versus 2.5 percent for US fixed income funds, and 10.3 percent versus 8.8 percent for the year.

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