For the first time in three-and-a-half years, balanced pooled funds dropped into negative territory in the second quarter, with a median return of -4.1%, according to Mellon Analytic Solutions. The bad news is tempered by the fact that even with the poor 2Q performance, balanced pooled funds are still up 16.1% for the past 12 months, and have achieved annualized returns in the past three years of 15.1%. Property was the best-performing sector in the last quarter, climbing 5.4%, making it 11 consecutive years of positive quarters. Large-cap funds topped all other market performers at 1.4%, while mid- and small-caps were down 3.5% and 5.4%, respectively.
