SANTA MONICA, Calif., Nov. 7, 2005 (PRIMEZONE) -- Building on the positive movement of the second quarter, the median performance of public pension funds was up 3.89 percent in the third quarter while corporate pensions gained slightly less at 3.74 percent, according to the Trust Universe Comparison Service(r) (TUCS(r)), a cooperative effort between Wilshire Analytics, the investment technology unit of Wilshire Associates, and custodial organizations. With approximately 300 plan participants representing approximately $2 trillion in assets, TUCS is the most widely accepted benchmark for the performance of institutional assets and includes data from corporate and public plans as well as endowments and foundations.
The one-year performances for public and corporate pension funds were 13.63 percent and 13.73 percent, respectively. The median performance of all master trusts during the quarter was 3.92 percent with the 12-month performance at 13.69 percent.
For those with assets greater than $1 billion, all master trusts had a rate of return of 4.15 percent while public funds showed a median increase of 4.06 percent during the third quarter. Corporate funds performance almost mirrored public funds with an increase of 4.05 percent. During the past year, the median performance for all master trusts with assets greater than $1 billion was 14.54 percent, with public funds up 13.75 percent and corporate funds showing a median gain of 14.64 percent.
TUCS reports the median rates of return and median asset allocation for the time periods ending September 30, 2005 as follows (returns for periods greater than one year are annualized).
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PERFORMANCE ASSET ALLOCATION
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All Master Trusts
One Quarter = 3.92% Equities = 62.57%
One Year = 13.69 Bonds = 26.88
Three Years = 14.80 Cash = 3.27
Convertibles = 0.00
GIC/GAC = 0.00
Real Estate 0.00
Venture Capital = 1.03
Other = 0.00
Corporate Funds
One Quarter = 3.74% Equities = 64.16%
One Year = 13.73 Bonds = 27.28
Three Years = 14.81 Cash = 3.09
Convertibles = 0.00
GIC/GAC = 0.00
Real Estate 0.00
Venture Capital = 0.17
Other = 0.00
Public Funds
One Quarter = 3.89% Equities = 61.20%
One Year = 13.63 Bonds = 28.42
Three Years = 13.99 Cash = 4.13
Convertibles = 0.00
GIC/GAC = 0.00
Real Estate 0.08
Venture Capital = 0.50
Other = 0.00
Foundations and Endowments
One Quarter = 4.67% Equities = 63.39%
One Year = 14.59 Bonds = 18.24
Three Years = 15.80 Cash = 2.77
Convertibles = 0.00
GIC/GAC = 0.00
Real Estate = 0.00
Venture Capital = 9.67
Other = 0.00
All Master Trusts with Assets Greater than $1 billion
One Quarter = 4.15% Equities = 61.84%
One Year = 14.54 Bonds = 26.69
Three Years = 15.24 Cash = 3.78
Convertibles = 0.01
GIC/GAC = 0.00
Real Estate 0.63
Venture Capital = 2.96
Other = 0.00
Corporate Funds with Assets Greater than $1 billion
One Quarter = 4.05% Equities = 61.84%
One Year = 14.64 Bonds = 26.69
Three Years = 15.24 Cash = 3.78
Convertibles = 0.01
GIC/GAC = 0.00
Real Estate 1.19
Venture Capital = 3.43
Other = 0.00
Public Funds with Assets Greater than $1 billion
One Quarter = 4.06% Equities = 61.07%
One Year = 13.75 Bonds = 27.36
Three Years = 14.87 Cash = 4.19
Convertibles = 0.00
GIC/GAC = 0.0
Real Estate 0.28
Venture Capital = 2.50
Other = 0.03
Foundations and Endowments with Assets Greater than $1 billion
One Quarter = 4.85% Equities = 62.00%
One Year = 15.48 Bonds = 18.28
Three Years = 16.06 Cash = 3.65
Convertibles = N/A
GIC/GAC = N/A
Real Estate = 0.29
Venture Capital = 11.70
Other = N/A
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About Wilshire Associates
Wilshire Associates is a leading global investment technology, investment consulting and investment management firm with four business units, including Wilshire Analytics, Wilshire Funds Management, Wilshire Consulting, and Wilshire Private Markets. Wilshire Analytics develops and provides superior risk management, portfolio analysis, asset allocation and performance measurement solutions to fund managers, banks, insurers, consultants and other institutional investment organizations around the world.
The firm was founded in 1972, revolutionizing the industry by pioneering the application of investment analytics and research to investment management for the institutional marketplace. Wilshire also is credited with helping to develop the field of quantitative investment analysis that uses mathematical tools to analyze market risks. All other business units evolved from Wilshire's strong analytics foundation. Wilshire developed the index now known as the Dow Jones Wilshire 5000(sm) Composite Index, the first asset/liability models for pension funds, the first U.S. equity style metrics work and many other "firsts" as the firm grew to more than 300 employees serving the investment needs of institutional and high net worth clients around the world.
Based in Santa Monica, CA, Wilshire provides services to clients in more than 20 countries representing in excess of 600 organizations with assets totaling more than $12.5 trillion. With eight offices on four continents, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality counsel, products and services. The Dow Jones Wilshire 5000(sm) Composite Index is calculated and distributed by Dow Jones Indexes pursuant to an agreement between Dow Jones & Company, Inc. and Wilshire Associates Incorporated. Please visit www.wilshire.com for more information.