The market value of assets held by Canadian trusteed pension funds decreased 5.4 per cent to $2.1 trillion in the second quarter of 2022, down from $2.21 trillion in the previous quarter, according to new data from Statistics Canada.

Trusteed pension funds posted a net loss of $3.4 billion in the second quarter, compared with a net income of $24.7 billion in the first quarter of 2022 and $40.4 billion in the second quarter of 2021. Total revenue decreased 51.2 per cent to $25 billion, mainly because of net realized losses, which accounted for $25.5 billion.

Read: Trusteed pension funds’ assets valued at $2.21TN in Q1: Stats Can

Within trusteed plans, public sector assets decreased 4.8 per cent, while private sector assets fell eight per cent.

The total value of domestic holdings fell 6.4 per cent, with equities dipping by 7.9 per cent and bonds decreasing by 7.3 per cent. The remaining asset categories accounted for a combined $9.3 billion decrease in the total market value of domestic assets.

Similarly, foreign assets fell 3.4 per cent for the quarter, with equities and bonds decreasing by $44.4 billion and $5.4 billion, respectively. These losses were offset by increases in real estate (8.4 per cent) and infrastructure (4.8 per cent).

Assets of nationality unknown accounted for 10.9 per cent of all assets, down from 11.4 per cent in the previous quarter.

Read: Trusteed pension funds’ assets valued at $2.27TN in Q4: Stats Can