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 fell 4.4% in the second quarter of 2010, versus a 3.4% gain
in the prior quarter. For the year ended June 30, 2010, the plans earned
13.1%. The 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.
In the first quarter, master trust funds of greater than $1 billion fell
4.0%, losing less than smaller master trust funds, which fell 4.4%.
Corporate Plans were up 14.3%, with the highest returns for the year
ending June 30, 2010 while Public Funds gained the least, rising 12.7%.
For the quarter, plan results all fell within a narrow range.
The State Street Universe (SSU) | |
|
|
Periods Ending June 30, 2010 |
| Median Return |
|
Universe Name |
| One Quarter |
| One Year |
| Three Years |
| Five Years |
|
|
Master Trust Funds
|
|
-4.4
|
|
13.1
|
|
-3.0
|
|
3.1
|
|
|
Master Trust Funds > $1 Billion
|
|
-4.0
|
|
13.1
|
|
-3.8
|
|
3.1
|
|
|
Master Trusts < $1 Billion
|
|
-4.4
|
|
13.2
|
|
-2.8
|
|
3.1
|
|
|
Corporate Plans (DB)
|
|
-4.6
|
|
14.3
|
|
-2.9
|
|
3.4
|
|
|
Endowments & Foundations
|
|
-4.5
|
|
13.7
|
|
-3.2
|
|
3.2
|
|
|
Public Funds (DB)
|
|
-4.9
|
|
12.7
|
|
-3.8
|
|
2.7
|
|
|
Taft Hartley Plans (DB)
|
|
-4.7
|
|
13.2
|
|
-3.6
|
|
2.3
| |
US Equity Funds fell10.8% in the first quarter, trailing
International Emerging Market Funds, but less than International
Developed Market Equity Funds which lost 12.3%. Although International
Emerging Market Equity funds fell 8.4% in the second quarter, on a
year-over-year basis they rebounded sharply, rising 23.3% in the last 12
months after plummeting 28.0% in the prior year. For the year ending
June 30, 2010, US Equity Funds also showed strong gains, up 16.6%. Fixed
Income Funds also did well over the last 12 months, with Global Fixed
Income Funds up 11.0% and US Fixed Income Funds rising 12.4%.
The State Street Universe (SSU) | |
|
| | |
Periods Ending June 30, 2010 |
| Median Return | |
Universe Name |
| One Quarter |
| One Year |
| Three Years |
| Five Years | |
|
US Equity Funds
|
|
-10.8
|
|
16.6
|
|
-8.4
|
|
0.5
| |
|
Global Equity Funds
|
|
-11.4
|
|
12.3
|
|
-10.1
|
|
3.0
| |
|
Intl Equity Funds – Developed Mkts
|
|
-12.3
|
|
9.0
|
|
-11.2
|
|
2.7
| |
|
Intl Equity Funds – Emerging Mkts
|
|
-8.4
|
|
23.3
|
|
-2.8
|
|
12.3
| |
|
US Fixed Income Funds
|
|
2.9
|
|
12.4
|
|
7.5
|
|
5.9
| |
|
Global Fixed Income Funds
|
|
1.2
|
|
11.0
|
|
7.9
|
|
5.9
| |
|
Venture Capital Funds
|
|
0.4
|
|
11.2
|
|
-0.7
|
|
5.7
| |
|
Hedge Funds
|
|
-1.6
|
|
9.0
|
|
-1.8
|
|
4.0
| |
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 and analytics 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 Corporation
State Street Corporation (NYSE: STT) is the world's leading provider 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 $1.8
trillion in assets under management at June 30, 2010, State Street
operates in 25 countries and more than 100 geographic markets worldwide.
For more information, visit State Street’s web site at www.statestreet.com.
Source: State Street Corporation
Contact:
State Street Corporation
Alicia Curran Sweeney, + 1 617-664-3001