Institutional investment plans experienced a solid third quarter, boosted by strong equity returns in general and from developed European markets, according to data from Northern Trust Universe.
The Northern Trust Universe tracks the performance of about 300 large U.S. institutional investment plans with a combined asset value of $834 billion.
The median plan in the public funds segment gained 4.9 percent in the third quarter ending Sept. 30, while corporate ERISA plans gained 4.4 percent and foundations and endowments returned 4.3 percent at the median.
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