The market value of assets held in Canadian trusteed pension funds rose 8.7% to $2.5 trillion in the first quarter of 2025, compared to $2.3 trillion in the same quarter last year, according to Statistics Canada.
The survey sample includes the top 250 trusteed pension plans, equating to around 90% of the total value of all trusteed pension assets, the statistical agency said.
Of the $2.5 trillion in assets, $960 million was held equities, $641 million in bonds and $248 million in infrastructure, among other investment categories.
In the equities category, $597 million was in public equities, up from $543 million in the first quarter of 2024, and $364 million was in private equities, up from $330 million.
The only asset type in the bond category to lose popularity was municipal bonds, dropping to $7.5 million from $9.6 million in the first quarter of 2024. Holdings of foreign bonds rose to $122 million from $106 million in the same period.
Several asset categories held steady, including $262 million in real estate, $43 million in Canadian treasury bills, $27 million in Canadian mortgages and $22 million in cash, deposits and guaranteed investment certificates.
Total liabilities of $327 million, including $254 million in investment-related liabilities and $18 million in derivative-related liabilities, brought the total net assets of Canadian trusteed pension funds to $2.2 billion.