The total net assets of Canadian trusteed pension funds was $2.18 trillion for the second quarter of 2025, up from $2.04 trillion in the same period last year, according to Statistics Canada.
Total gross assets was $2.51 trillion. Of that, $975 million was held equities, $638 million in bonds and the rest were in infrastructure, among other investment categories.
In the equities category, $607 billion was in public equities, up from $556 billion at the same time in 2024, and $369 billion was in private equities, up from $338 billion.
The only reduction in the bond category on a year-over-year basis was municipal bonds, dropping to $7.1 billion in this year’s second quarter from $7.3 billion in Q2 2024. Holdings of foreign bonds rose to $128 billion from $100 million in the same period.
Several asset categories held steady, including $289 billion in real estate and $22 billion in cash, deposits and guaranteed investment certificates.
Total Canadian assets were $950 billion while foreign assets amounted to $2.5 trillion.
Total liabilities of $332 billion was up from $276 billion in the second quarter last year. This included $266 billion in investment-related liabilities and $12 billion in derivative-related liabilities.