Institutional investors in North America saw an average return of 3.19% in the third quarter.

All plan types, including pensions, corporate funds and foundations, were helped by solid performance by all of the major asset classes.

Statistics from US-based consulting firm Wilshire show the July-September period marked the best quarter since early 2014.

The firm’s Universe Comparison Service monitors institutional asset performance and asset allocation.

Last year’s third quarter of was the worst quarter in four years.

Larger corporate funds and public funds outperformed their smaller peers. It was the opposite for foundations and endowments.

All plan types with assets greater than $1bn had median returns of 3.54% in Q3 and 9.9% over the twelve months up until the end of September.

"What a difference a year makes. Not only was this the fourth positive quarter in a row for all plan types, but it was the best quarter since the second quarter of 2014, which experienced a median return of 3.43%," said Robert J. Waid, managing director, Wilshire Associates.

"Replacing the third quarter of 2015, which was the worst quarter in four years, with the best quarter in two years, boosted the one-year return to 9.17% for the year ending September 30, 2016 from 0.9%  for the year ending June 30, 2016."