BOSTON--(BUSINESS WIRE)--
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 its universe of total plans rose
3.4% in the first quarter of 2010, in line with the 3.1% gain in the
fourth quarter of 2009. For the year ended March 31, 2010, the universe
earned 30.0%. The State Street Universe (SSU) consists of a diverse
range of funds custodied at State Street and funds provided by the
Independent Consultants Cooperative (ICC). It includes the total plans
of a wide range of plan sponsors and the individual funds that comprise
each plan. The approximately 20,000 portfolios in the State Street
Universe constitute a combined asset value exceeding $2 trillion.
Master trust funds of less than $1 billion returned 30.8%, slightly
higher than larger master trust funds, which returned 29%. Corporate
Plans were up 32.6%, with the highest returns for the year ending March
31, 2010 while Taft Hartley and Public Funds gained only 30.3% and
30.4%, respectively. For the quarter, plan results all fell within a
narrow range.
US Equity Funds rose 6.1% in the first quarter, leading other types of
funds. For the year ending March 31, 2010, International Emerging Market
Equity funds rebounded sharply, rising 82.0% after plummeting 48.4% in
the prior year. Other types of equity funds also showed strong
performance: International Developed Market Equity Funds rose 54.7%,
Global Equity Funds rose 54.0% and US Equity Funds rose 53.6%. Fixed
Income Funds also did well over the last 12 months, with Global Fixed
Income Funds up 20.8% and US Fixed Income Funds gaining 14.1%.
Final results for Private Equity and Real Estate Funds were reported
with Real Estate Funds losing 28.6% and Private Equity Funds losing 5.7%
as of December 31, 2009. For the fourth quarter 2009, Private Equity
funds earned 2.6% while Real Estate Funds lost 2.4%.
State Street’s Investment Analytics team offers services through global
locations including Alameda, Amsterdam, Boston, Dublin, Edinburgh,
Frankfurt, London, Luxembourg, New York, Paris, Sydney, Toronto and
Zurich. It calculates performance for over 1100 clients globally on
asset volumes exceeding $6.5 trillion.
The Independent Consultants Cooperative is a consortium of independent
investment consulting firms that deliver superior value-added products
to their clients. The ICC is currently comprised of thirteen
well-established firms located across the country that collectively
consult to 10% of the industry’s institutional assets. In order to avoid
conflicts of interest, none of the ICC member firms offers investment
management services. Rather, the ICC focuses solely on the continuous
refinement of investment consulting products, systems and diagnostic
databases for the collective benefit of their clientele. For more
information about the Independent Consultants Cooperative and its member
firms, visit the web site at www.icc-group.com
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading
providers of financial services to institutional investors, including
investment servicing, investment management, and investment research and
trading. With $19 trillion in assets under custody and administration
and $1.9 trillion in assets under management at March 31, 2010, State
Street operates in 25 countries and more than 100 geographic markets
worldwide. For more information, visit State Street at www.statestreet.com.
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Source: State Street Corporation
Contact:
State Street Corporation
Alicia Curran Sweeney, + 1 617-664-3001