Public Pensions Outperform Peers In First Quarter: Data
Send a link to a friend
[May 05, 2014]
(Reuters) - U.S. public pension funds
returned a median 1.87 percent in the first quarter of 2014,
slightly outperforming the 1.66 percent returns for the larger
universe of institutional investment plans, according to a report to
be released on Monday.
The results this year are far below the first quarter of last year,
when public pensions returned a median 5.2 percent.
However, the annual median return for public funds remains high, at
12.94 percent, after the first quarter of 2014, the data from the
Wilshire Trust Universe Comparison Service showed.
Double-digit annual returns in 2013 began to give states' and
cities' retirement systems a chance to start implementing reforms to
fix gaping deficits.
Wilshire's report covers nearly 1,700 different plans - including
foundations, endowments and corporate funds - representing more than
$3.5 trillion in assets.
"While this is the third positive quarter in a row, returns remain
below the classic 1.82 percent or higher quarterly return target
required for an annualized 7.5 percent return," said Wilshire
Managing Director Robert Waid, referring to the overall results.
[to top of second column]
By comparison, the Wilshire 5000 Total Market Index returned 2.04
percent, while the Barclays U.S. Aggregate Index returned 1.84
percent for the quarter.
(Reporting by Hilary Russ in New York; editing by Matthew Lewis)
[© 2014 Thomson Reuters. All rights
Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.