Mellon Master Trust Universe Up More than 7% in '05
In its news release, Mellon said the median return for the fourth quarter was 2.28%. Of the 499 plans in the universe, 498 showed positive results for the quarter and 80% outperformed the universe’s composite benchmark (Russell 3000 Index 50%, Lehman Brothers Aggregate 40%, MSCI World ex-US 10%).
Non-US Equities led all asset classes for the quarter with a median return of 4.68%, slightly ahead of the MSCI AC W XUS Index return of 4.39%. US Equities generated a return of 2.28%, ahead of the Russell 3000 Index return of 2.04%, according to Mellon.
US Fixed Income posted a median result of 0.61%, versus the Lehman Brothers Aggregate return of 0.59%. Non-US Fixed Income was the only asset class without a gain, showing a return of -0.19%, still outperforming the Citigroup World Government Non-US return of -2.61%.
Endowment plans were the top performing plan type for both the fourth quarter and the year, gaining 2.60% and 9.53%, respectively.
The average asset allocation in the US Master Trust Universe for the fourth quarter was:
- US Equity – 42%,
- US Fixed Income – 24%,
- Non-US Equity – 20%,
- Non-US Fixed Income – 1%,
- Alternative Investments – 6%,
- Real Estate – 2%,
- Cash – 1%, and
- Other (Private Equity, Oil, Gas, etc.) – 4%.
The US Master Trust Universe represents a market value of $1.4 trillion with an average plan size of $2.8 billion. Additional information can be found at www.mellon.com .
You Might Also Like:
DOL Prevails in Court Orders, Removing TPA From Acting as Fiduciary for Sponsors
Newport Group to Acquire Part of Evercore's Trust Business
The institutional trust and fiduciary business of Evercore's subsidiary Evercore Trust Company will become part of Newport Group.