TORONTO, April 30, 2024 /CNW/ – RBC Investor Services (RBCIS) released a report highlighting a median return of 3.6% for their defined benefit (DB) pension plans during the first quarter of 2024.
Canadian equities showed a 6.8% increase for client plans, aligning closely with the TSX Composite Index’s 6.6% rise, led by the energy (+13.1%) and industrials (+11.1%) sectors. Meanwhile, foreign equities for client plans generated gains of 9.8%, slightly below the MSCI World Index return of 11.7%.
Sylvain Gervais, managing director of Business Development at RBCIS, noted, “A growing interest in AI-exposed stocks drove growth-oriented equities to outpace value equities. For instance, MSCI World Growth yielded 13.1% compared to MSCI World Value’s 10.3%. The communication services, information technology, and financials sectors performed strongly, with returns of 15.9%, 15.2%, and 13.4%…
