U.S. institutional investment plan sponsors posted a second consecutive quarter of strong gains, according to data released by Northern Trust Corp.
According to the performance results of 300 large institutional investment plans, which had a combined asset value of $596 billion, they had a median return of 10.9% in the third quarter.
In the quarter, corporate pension plans posted a median return of 12.7%, public funds were up 11.6% and foundations and endowments gained 9.9%. For the past 12 months, corporate plans and public funds moved into positive territory with corporate plans posting a median return of 2.5% and public funds reporting a median return of 0.2%, while foundations and endowments lost 1.9%.
The results were issued Monday.