Information technology was the clear leader which returned 12.6% while communications offered a strong 9.3%. Growth-style and US stocks outperformed with the S&P 500 returning 5.7%, again it was IT that fuelled its performance.
Canadian stocks, with a broader base, underperformed with RBCIS DB plans returning a negative -0.6%, in line with the S&P/TSX Composite’s negative -0.5% in the quarter. Financials and industrials weakened the impact of a stronger materials sector.
Fixed income fared better with a positive 0.8% return in the quarter, in line with the 0.9% return of the FTSE Canada Universe Bond Index. Bonds benefitted from the Bank of Canada’s June rate cut to reverse a negative first quarter, led by short-term FTSE Canada Universe bonds which posted 1.2% compared to 0.2% for long-term bonds.
“This analysis emphasizes the complexities of the Canadian pension landscape, and the…
