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 the State Street Universe (SSU) of
total plans rose 8.0% in the third quarter of 2010, following the 4.4%
loss in the prior quarter. For the twelve month period ending September
30, 2010, the universe returned 10.1%. The SSU consists of a diverse
range of funds custodied at State Street and funds provided by the
Independent Consultants Cooperative (ICC). It consists of approximately
1100 total plans of a wide range of plan sponsors and the nearly 20,000
individual funds that comprise each plan. The combined asset value of
the portfolios in the SSU exceeds $1.8 trillion as of September 30, 2010.
In the third quarter, master trust funds of greater than $1 billion
returned 8.2%, slightly higher thansmaller Master Trust Funds,
which returned 8.0%. Corporate Plans were up 10.7%, with the highest
returns for the year ending September 30, 2010, while Taft Hartley Plans
gained 10.2%. For the quarter, plan results ranged from 8.0% (Endowments
& Foundations) to 8.7% (Corporate Plans).
|
|
The State Street Universe (SSU) |
|
|
Periods Ending March 31, 2010 |
|
|
|
| Median Return |
Universe Name |
|
|
|
| One Quarter |
|
|
|
| One Year |
|
|
|
| Three Years |
|
|
|
| Five Years |
|
Master Trust Funds
|
|
|
|
|
8.0
|
|
|
|
|
10.1
|
|
|
|
|
-1.0
|
|
|
|
|
4.0
|
|
Master Trust Funds > $1 Billion
|
|
|
|
|
8.2
|
|
|
|
|
10.5
|
|
|
|
|
-1.6
|
|
|
|
|
4.0
|
|
Master Trusts < $1 Billion
|
|
|
|
|
8.0
|
|
|
|
|
10.0
|
|
|
|
|
-0.8
|
|
|
|
|
3.9
|
|
Corporate Plans (DB)
|
|
|
|
|
8.7
|
|
|
|
|
10.7
|
|
|
|
|
-0.8
|
|
|
|
|
4.1
|
|
Endowments & Foundations
|
|
|
|
|
8.0
|
|
|
|
|
10.3
|
|
|
|
|
-1.3
|
|
|
|
|
4.1
|
|
Public Funds (DB)
|
|
|
|
|
8.4
|
|
|
|
|
10.3
|
|
|
|
|
-1.5
|
|
|
|
|
3.8
|
|
Taft Hartley Plans (DB)
|
|
|
|
|
8.2
|
|
|
|
|
10.2
|
|
|
|
|
-1.3
|
|
|
|
|
3.4
|
|
|
Equity Funds rebounded strongly in the third quarter, more than
offsetting second quarter losses. International Emerging Market Equity
Funds rose 19.1% in thethird quarter, while US Equity Fundsgained11.3%. International Development Market Equity rose
16.2% and Global Equity Funds rose 14.5%. For the twelve month period
ending September 30, 2010, International Emerging Equity Funds again had
the highest returns, rising 20.2%, while International Developed Market
Equity Funds had the smallest gains, rising 5.8%. US Equity Funds rose
11.8% and Global Equity Funds rose 9.0%.
Fixed Income Funds performed well over the last 12 months, with both US
Fixed Income Funds and Global Fixed Income Funds up 10.2%. In the third
quarter, Global Fixed Income Funds gained 7.5% while US Fixed Income
Funds rose 3.1%.
|
|
The State Street Universe (SSU) |
|
|
Periods Ending September 30, 2010 |
|
|
|
| Median Return |
Universe Name |
|
|
|
| One Quarter |
|
|
|
| One Year |
|
|
|
| Three Years |
|
|
|
| Five Years |
|
US Equity Funds
|
|
|
|
|
11.3
|
|
|
|
|
11.8
|
|
|
|
|
-5.2
|
|
|
|
|
1.9
|
|
Global Equity Funds
|
|
|
|
|
14.5
|
|
|
|
|
9.0
|
|
|
|
|
-6.7
|
|
|
|
|
3.5
|
|
Intl Equity Funds – Developed Mkts
|
|
|
|
|
16.2
|
|
|
|
|
5.8
|
|
|
|
|
-7.4
|
|
|
|
|
3.7
|
|
Intl Equity Funds – Emerging Mkts
|
|
|
|
|
19.1
|
|
|
|
|
20.2
|
|
|
|
|
-1.4
|
|
|
|
|
12.5
|
|
US Fixed Income Funds
|
|
|
|
|
3.1
|
|
|
|
|
10.2
|
|
|
|
|
7.7
|
|
|
|
|
6.7
|
|
Global Fixed Income Funds
|
|
|
|
|
7.5
|
|
|
|
|
10.2
|
|
|
|
|
9.2
|
|
|
|
|
7.9
|
|
Hedge Funds
|
|
|
|
|
2.7
|
|
|
|
|
6.2
|
|
|
|
|
-0.8
|
|
|
|
|
3.8
|
|
|
State Street’s Investment Analytics (SSIA) Group provides performance
and analytics services and employs more than 600 dedicated investment
performance professionals across 15 offices worldwide. SSIA serves
approximately 1,400 clients with asset volumes exceeding $7 trillion,
(as of June 30, 2010) offering comprehensive services in performance,
risk and strategic analysis that help them monitor and measure the
success of their investment strategies in any market and in any asset
class, including alternative investments.
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 $20.2 trillion in assets under custody and administration
and $1.9 trillion in assets under management at September 30, 2010,
State Street operates in 25 countries and more than 100 geographic
markets worldwide. For more information, visit State Street’s website at www.statestreet.com.
Source: State Street Corporation
Contact:
State Street Corporation
Alicia Curran Sweeney, +1 617-664-3001