Canadian defined benefit funds returned 6.6% on their investments in the first quarter, the eighth straight quarter of positive returns, based on RBC Investor & Treasury Services’ quarterly survey.
The returns came despite falling oil prices and a cut in the Bank of Canada funds rate to 0.75% from 1% in the quarter.
The latest quarter’s returns topped the fourth-quarter return of 2.9%.
Foreign equities had the highest performance for the first three months of 2015, at 12%, while Canadian equities returned 2.3% and fixed income, 4.6%
The universe of public and corporate pension funds has a combined C$600 billion ($490 billion) in assets.