Northern Trust Universe Data: Solid Gains for Institutional Plans in Q1 as Global Equity Markets Surge
2024年5月3日 - 12:00AM
ビジネスワイヤ(英語)
Global equity markets rallied to record levels during the first
quarter of 2024, on expectations of a "soft landing" and interest
rate cuts later in the year. The median return for institutional
asset owners included in the Northern Trust All Funds Over $100
million plan universe was 3.7% for the quarter ending March 31,
2024.
The Northern Trust Universe tracks the performance of 405 large
U.S. institutional investment plans, with a combined asset value of
more than $1.4 trillion, which subscribe to performance measurement
services as part of Northern Trust's asset servicing offerings.
The Northern Trust Foundation and Endowment (F&E) universe
produced a 3.9% median return while the Northern Trust Public Funds
universe median return was up 3.5% and the Northern Trust Corporate
(ERISA) universe median return was up 1.2% for the quarter.
"The year started strong as global equity markets surged to new
highs, showing investors were willing to take on added risk during
the quarter,” said John Turney, Global Head of Total Portfolio
Solutions. “Gains from equities were partially offset in most
institutional portfolios by allocations to fixed income, where
rising yields led to negative returns and indicated caution about
the future direction of interest rates.”
The Northern Trust U.S. Equity Program universe produced a 9.6%
median return for the first quarter. Large cap stocks outperformed
small cap stocks, with the Russell 2000 small cap index returning
5.2%, compared to the Russell 1000 large cap index which returned
10.3% for the period.
The Northern Trust U.S. Fixed Income program universe median
return was down -0.2% for the quarter. The US Ten-Year Government
Bond yield rose from 3.88% to 4.21% during the quarter and the
two-year government bond yield rose 78 basis points to 4.59%.
Foundations & Endowments universe median one-, three- and
five-year returns were 12.3%, 5.0% and 8.6%, respectively. The
median allocation to private equity was 22.9%, a slight decline
from the prior quarter, resulting from strong returns in the equity
asset class. The median allocation to hedge funds was 9.0%.
Public Funds universe median returns for the one-, three- and
five-year periods stood at 10.4%, 4.6% and 7.5%, respectively. The
median allocation to U.S. and international equity were 27.6% and
12.7%, respectively, while the median exposure to U.S. fixed income
held steady at 22.2% while strong performance in equities lowered
the segment’s median private equity allocation to 11.5%.
ERISA plan universe median one-, three- and five-years returns
were 6.3%, -0.1% and 4.7%, respectively. The segment’s large median
allocation to the US fixed Income asset class (56.2%) resulted in
underperformance relative to other client segments. ERISA clients
continue to have small allocations to alternative assets, where the
median allocation to private equity is 2.7%.
Results as of March 31, 2024:
1st
Qtr
1Yr
3Yr
5Yr
ERISA
1.2%
6.3%
-0.1%
4.7%
Public Funds
3.5%
10.4%
4.6%
7.5%
Foundations & Endowments
3.9%
12.3%
5.0%
8.6%
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of March 31, 2024, Northern Trust had assets under
custody/administration of US$16.5 trillion, and assets under
management of US$1.5 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
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version on businesswire.com: https://www.businesswire.com/news/home/20240502037054/en/
Europe, Middle East, Africa & Asia-Pacific:
Camilla Greene +44 (0) 20 7982 2176 Camilla_Greene@ntrs.com
Simon Ansell + 44 (0) 20 7982 1016 Simon_Ansell@ntrs.com
US & Canada:
John O’Connell +1 312 444 2388 John_O’Connell@ntrs.com
http://www.northerntrust.com
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