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Impact Investing

IPE special report May 2018

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US plans beat EAFE benchmarks despite negativity

US – Pension funds actively investing internationally beat their overseas equity benchmarks last year, despite the performance figures for both coming in below zero, according to the preliminary results of a study done by US research analyst InterSec.

The report records that the EAFE Plus median manager out-performed the MSCI EAFE (Europe, Australasia and Far East) benchmark for the year 2000 with a minus 12.2% return, while the index ended the year with results of minus14.2%.
The S&P500 ended the year down, at minus 9.09%.

Interestingly, EAFE value briefs out-performed EAFE growth portfolios in every financial quarter of the year 2000, a sharp contrast to 1999 when the opposite was true.

The MSCI World index ended the year at minus 13.1%, which the median global equity manager beat with a return of minus 8.5%.

Global emerging market returns were disappointing for both active and index managers. The median manager beat the MSCI Emerging Markets Free benchmark with a return of minus 28.8% against the index figure of minus 31.1%.

InterSec’s preliminary figures are based on 50% universe results.
The final full universe results will be published at the end of January.

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