Canada’s institutional investors saw assets decline by 4.61 per cent in the first quarter of 2022, according to the BNY Mellon Canadian master trust universe.
With respect to non-traditional asset classes, real estate delivered the highest performance, with a quarterly median return of 4.65 per cent. Among traditional asset classes, Canadian equities performed best. During the quarter, those listed on the S&P/TSX composite index grew by 3.96 per cent, though the average returns for all Canadian equities was just 0.44 per cent.
U.S. equities saw median losses of 6.13 per cent, though those equities listed on the S&P 500 index saw average gains of 2.13 per cent. While stocks listed in the MSCI EAFE index dipped in value by 0.78 per cent, overall, international equities saw average losses of 8.29 per cent. Median losses on fixed income portfolios reached 7.62 per cent, significantly worse than the 2.99 per cent losses posted for bonds included in the FTSE Canada universe bond index.