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鈥檚 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: 鈥淲hile assets continue to gain momentum, we can also infer that liabilities have also increased as longer-term bond yields have come down.鈥�
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: 鈥淸Financials and energy] accounted for the bulk of the increase with energy leading the way as concerns over Iraq helped boost oil stocks.鈥�
鈥淧ensions kept pace with the index for the quarter but still lag by 0.2 percent year-to-date.鈥�
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