Canadian defined benefit pension plans posted the lowest observed returns since the 2008 financial crisis. Read more.
Among the plan assets are fixed income investments, which lost 16.8 per cent in returns over the 12-month period, their largest annual fixed-income decline in more than 30 years, the report said. This compared to the FTSE Canada Bond Index’s -11.7 per cent return.Article content
“As central banks enacted restrictive monetary policy to tame surging inflation, yields rapidly rose across the spectrum,” it said, adding that the weakness spread across the market, but inflation-sensitive, longer-duration bonds were the most affected. The FTSE Canada Long Overall Bond Index declined 21.8 per cent, while FTSE Canada Short Overall Bonds were down four per cent, it noted.
RBC said its top-performing asset class in the last quarter was foreign equities, which returned 9.7 per cent in the quarter but finished the year in the red with a -11.3 per cent return. These were slightly ahead the Morgan Stanley Capital International World Index, which returned -12.2 per cent. The report said a majority of developed markets generated healthy local currency returns over the quarter, as well as currency gains outside of the U.S. market for unhedged portfolios. It said value stocks, at 0.3 per cent, outperformed growth stocks, at -24.1 per cent, in the quarter and finished the year well ahead of their growth counterparts.Article content
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil prices may have already bottomed in 2023, says RBCInvestors are weighing Wednesday's Fed meeting, widely expected to result in another rate hike, against an improving demand outlook in China From jefflagerquist
Read more »
Oil prices may have already found a floor for 2023: RBC analysts - BNN BloombergOil prices might have already hit a floor for the year, according to Royal Bank of Canada analysts Helima Croft and Michael Tran, who anticipate commodity prices will get a boost from China’s economic re-opening.
Read more »
China’s smartphone sales in 2022 plunge to lowest level in a decadeOverall, the plunge in smartphone sales in China reflected the sector’s performance globally
Read more »
People's commission report on 2022 convoy protest describes 'human rights' failure by officialsThe assessment is based on submissions by over 200 people at 14 hearings and eight community meetings plus online and mailed submissions.
Read more »
Elections Ontario releases 2022 campaign expensesTwo candidate/association pairings have yet to have their 2022 provincial election financial paperwork with Elections Ontario, while others filed theirs late due to what Sudbury Liberal candidate David Farrow described as a bottleneck in paperwork
Read more »
BEYOND LOCAL: Rent prices grew at record pace in 2022The report also said last year's surging real estate market saw the lowest vacancy rate for purpose-built rentals in decades
Read more »