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Investing May 5, 2009
ICC Universe Shows Median Plan Loss of 5.1% in Q109
May 5, 2009 (PLANSPONSOR.com) - The median master
trust in the ICC Universe lost 5.1% in the first quarter,
according to the Independent Consultants Cooperative (ICC), a
consortium of independent investment consulting firms that
collectively consults to 10% of the institutional assets in
the United States.
Reported by Rebecca Moore
The median master trust fell 24.6% in the year ended March 31, 2009, as the effects of the fourth quarter continued to impact the longer term results, ICC said in a press release (see Median ICC Master Trust Down 24% in 2008 ). Endowments & Foundations lost the least – the median fund lost 4.7% in the first quarter – while Public Funds and Corporates dropped 5.7% and 5.6%, respectively.
Over the last 12 months, the median Corporate plan fell 24.5%, which was 100 basis points better than Endowments & Foundations, while Public Funds experienced the greatest losses, dropping 25.9%.
In the first quarter, International Emerging Market Equity funds performed best: the median fund was down only 1.6%, according to the press release. International Developed Equity Market funds fared worst, falling 13.1%. The median U.S. Equity fund lost 10.3%, while Global Equity funds fell 11.1%.
International Emerging Bond funds fared best in the first quarter, as the median fund rose 2.8%, and the median U.S. Bond fund also ended up in positive territory, earning 0.6% in the quarter. International Developed Market Bond funds lost most in the quarter – down 3%, while Global Bond funds dropped 2.6%.
Small capitalization funds experienced the greatest losses within each style. Within each size band, growth funds experienced the smallest declines while value-oriented funds lost the most ground, ICC said.
| Representative Master Trust Universes: | |||||||||
| Median Performance as of March 31, 2009 | |||||||||
| 1 Quarter | 1 Year | 3 Years | 5 Years | ||||||
| Corporate | -5.6 | -24.5 | -5.7 | 0.3 | |||||
| Endowments & Foundations | -4.7 | -25.5 | -6.0 | 0.0 | |||||
| Public Funds | -5.7 | -25.9 | -6.4 | 0.0 | |||||
| Taft Hartley | -5.3 | -25.7 | -6.4 | -0.3 | |||||
class="bwcellparagraphmargin"> Representative Actively-Managed Universes | ||||||
| Median Performance as of March 31, 2009 | ||||||
| Equity Style | 1 Quarter | 1 Year | ||||
| Large Cap Value | -14.0 | -41.1 | ||||
| Large Cap Core | -10.9 | -37.5 | ||||
| Large Cap Growth | -4.7 | -34.5 | ||||
| Mid Cap Value | -11.1 | -37.8 | ||||
| Mid Cap Core | -7.6 | -35.2 | ||||
| Mid Cap Growth | -5.0 | -37.1 | ||||
| Small Cap Value | -15.3 | -37.9 | ||||
| Small Cap Core | -14.1 | -36.9 | ||||
| Small Cap Growth | -8.0 | -36.3 | ||||