This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.

Summary Observations

• The median US Small-Cap Equity manager posted the highest median return for second quarter 2020, returning 24.7%. The median US Core Bonds manager posted the best returns for the one-year period ending June 30, 2020, with a return of 8.8%.

• The median Cash Management manager posted the lowest median returns for second quarter 2020, returning 1.1%. Despite its strong quarterly performance, the median US Small-Cap Equity manager suffered the worst performance of -7.7% for the one-year period.