Public Sector Pension Investment Board, Montreal, returned 1% in the fiscal year ended March 31, a news release said.
The C$116.8 billion ($89.5 billion) pension fund exceeded its policy benchmark return of 0.3%, and its best-performing asset class was real estate at 14.4%, followed by infrastructure at 12.7%.
Natural resources returned 6.9%; private equity, 2.4%; and public markets, -3.2%.
A final asset class, private debt, was first instituted in November and thus one-year returns are not yet available.
As of March 31, the actual allocation was 58.8% public markets, 17.4% real estate, 10.7% private equity, 7.4% infrastructure, 3.1% cash and cash equivalents, 2.1% natural resources and 0.5% private debt.
PSP Investments manages the pension assets of Canadian federal public service workers, Canadian Forces, Reserve Forces and the Royal Canadian Mounted Police.
Officials at the pension fund could not be immediately reached to provide further information.