The typical Canadian defined benefit pension plan posted a median return of 0.4 per cent in the first quarter of 2026, according to a new report by RBC Investor Services.

It found Canadian equity allocations returned 3.9 per cent in the quarter, matching the TSX composite index. Energy led sector gains with a 30.1 per cent surge following the Strait of Hormuz closure, while materials rose strongly early in the period, pulled back significantly in March and finished with a 10.7 per cent gain. March marked a turning point for information technology as well: after falling sharply in January and February, the sector partially recovered to end down 22.5 per cent.

On the global equity side, client plans returned negative 0.9 per cent, outperforming the MSCI world index’s 1.8 per cent drop as active management and tactical positioning cushioned losses. U.S. equities slipped 2.6 per cent, dragged down by the IT pullback. Value stocks significantly outperformed growth across indices, with MSCI world value........

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