Canadian pensions see further declines

Survey shows slip of 1.9 per cent in first quarter
By Sarah Dobson
||Last Updated: 06/18/2008

Canadian pension plans lost ground for the third consecutive quarter, as financial woes depressed equity markets worldwide, according to a survey by RBC Dexia Investor Services in Toronto. Within the $340 billion RBC Dexia universe, Canadian pension funds slipped 1.9 per cent in the first quarter of 2008, pushing losses down 2.7 per cent for the latest 12-month period.

Global equity was the hardest hit asset class although a weaker loonie softened the blow for unhedged Canadian-based investors, said RBC.