Canada continues year on year growth 29 July 2014Toronto Reporter: Catherine Van de Stouwe
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Pension assets have increased for a fourth successive quarter for global markets, according to the latest survey from RBC Investor & Treasury Services.
In its Q2 report for 2014, RBC’s defined benefit pension plans returned 3 percent, bringing the year-to-date results to nearly 8 percent.
Scott MacDonald, managing director of pensions for RBC, said: “While assets continue to gain momentum, we can also infer that liabilities have also increased as longer-term bond yields have come down.”
Canadian equity remained the top performing asset class as the S&P/TSX Composite Index gain 6.4 percent in the quarter and 12.9 percent year-to-date.
MacDonald added: “[Financials and energy] accounted for the bulk of the increase with energy leading the way as concerns over Iraq helped boost oil stocks.”
“Pensions kept pace with the index for the quarter but still lag by 0.2 percent year-to-date.”
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