CHICAGO–(BUSINESS WIRE)–U.S. institutional investment plans benefited from strong global equity market performance in the first quarter of 2021, according to data from the Northern Trust Universe. With markets propelled by the distribution of COVID-19 vaccines in the United States and globally, the median plan in the Northern Trust Universe finished with a 3.3% return for the quarter ending March 31, 2021.
The Northern Trust Universe tracks the performance of more than 380 large U.S. institutional investment plans, with a combined asset value of more than $1.34 trillion, which subscribe to performance measurement services as part of Northern Trust’s asset servicing offerings.
“The first-quarter U.S. equity market rally was driven by two key events – the news that almost one-third of all U.S. adults had received at least one dose of a COVID-19 vaccination and government approval of a third stimulus relief package that injected $1.9 trillion into the economy,” said Amy Garrigues, Global Head of Investment Risk and Analytical Services at Northern Trust. “As a result of this market rally, the Northern Trust U.S. equity program universe reported a 7.1% median gain in the first quarter. U.S. fixed income, meanwhile, had negative returns of -2.6% at the median for the quarter due to expectations for increased inflation in the near term.”
Differing asset allocations produced divergent returns among segments of the Northern Trust Universe: Public Funds…
