Most of the U.S. institutional investment plan sponsors that Northern Trust Co. serves reported negative returns in the second quarter, according to data it released Monday.
Joe Nardulli, a product manager from Northern Trust’s investment risk and analytical services, said U.S. institutional plans faced a lot of economic uncertainty. Corporate plans lost an average of 1.1%, public fund plans lost 0.9%, and foundation and endowment plans lost 0.7%.
More than 300 large institutional investors, with combined assets of roughly $550 billion, subscribe to Northern Trust’s performance measurement services.
Despite the disappointing quarterly results, plans sustained strong growth over longer periods, Northern Trust said. The average plan posted double-digit returns in the one- and three-year time frames. The average corporate plan returned 6.5% over five years, while the average public fund and foundation and endowment plan both returned 7.1%.
