Volatility hits Canadian pensions

market-volatility/cent/director/

21 April 2008
| By Mike Taylor |

Australian superannuation funds aren’t the only ones suffering declines in the face of market volatility, with the latest data out of Canada suggesting a similar tale of woe.

A survey conducted by RBC Dexia Investor Services has revealed that Canadian pension plans lost ground for the third consecutive quarter, slipping 1.9 per cent to the end of March, pushing losses to 2.7 per cent for the 12-month period.

The RBC Dexia data said that global equity had been the hardest hit asset class although the weaker Canadian currency had softened the blow for unhedged Canadian-based investors.

“The MSCI World Index plunged 11.9 per cent in local currency terms. Performance nearly matched the index, but Canadian pensions lost only 5.5 per cent once exchange rates were taken into account,” RBC Dexia director of advisory services Don McDougall said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 1 week ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 6 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 weeks 2 days ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

3 days 22 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5