Canadian defined benefit plans posted positive investment returns in the second quarter, recovering all of the losses from the previous quarter, Northern Trust pension universe data found.
For the quarter ended June 30, the median plan in the Northern Trust Canada Universe returned 9.9%, up from -7.1% in the first quarter, according to the findings released Thursday.
Canadian DB plans benefited from the recovery following March's poor equity performance due to the economic impact of the COVID-19 pandemic.
"Despite the level of volatility witnessed over the last several months, Canadian pension plans are tracking in a positive direction, with the median plan in the Northern Trust Canada Universe generating a solid 9.9% gain for the second quarter," said Katie Pries, Northern Trust Canada's president and CEO, in a news release. "Although there still remains a heightened level of uncertainty in the current environment as the pandemic continues to run its course, plan sponsors continue to persevere as they navigate on a path to sustainability."