Canada's top 100 pension funds

Canada's top 100 pension funds earned an average 9% return on investment for the year ended Dec. 31, 1998. That according to the 20th annual Top 100 Pension Funds report, as published in the April, 1999 issue of BENEFITS CANADA. This is the first time the country's leading funds have reported an average single-digit return on investment since 1994. "It was a challenging year for the country's top 100 pension funds," says BENEFITS CANADA managing editor Kevin Press. "The good news is they were up to it. A truly global investment view was key in 1998, a year in which Canadian equities underperformed." The top 100 pension funds are reporting CAD432.3 billion in assets (market value) as of Dec. 31, 1998. That is an 8.8%, or CAD34.8 billion, increase over Dec. 31, 1997. Highlights: Total market value of the top 100 pension funds' Canadian equity holdings is CAD106 billion as of Dec. 31, 1998-that's down CAD7.7 billion from the previous year. Top 100 report total U.S. equity holdings of CAD38.9 billion, up CAD7.3 billion over last year. The average asset mix, as reported in percentage terms: Canadian equity (29.8%); U.S. equity (10%); EAFE (7%); emerging markets (0.4%); global equity (4.5%); Canadian bonds (35%); international bonds (0.4%); real estate (4%); GICs (0.1%); other (4.5%); private placements (0.3%); venture capital (0.2%); and cash (2.6%). The top 10 pension funds (and the market value of their total assets as of Dec. 31, 1998) are as follows: 1. Ontario Teachers (CAD64.73 billion), 2. Quebec Public Employees (CAD51.4 billion), 3. OMERS (CAD31.72 billion), 4. Hospitals of Ontario Pension Plan (CAD14.74 billion), 5. B.C. Municipal (CAD12.19 billion), 6. Ontario Pension Board (CAD10.97 billion), 7. BCE Inc. (CAD10.96 billion), 8. Ontario Hydro (CAD10.8 billion) 9. Canadian National Railways (CAD10.62 billion), 10. B.C. Public Service (CAD10.19 billion). The Top 100 Pension Funds of 1999 is published in the April, 1999 issue of BENEFITS CANADA. BENEFITS CANADA is the country's original and leading publication written exclusively for the sponsors of group benefits and pension plans. It is a monthly magazine read by senior corporate, financial and administrative management, and covers topics ranging from drug, dental and disability plan management, to workplace wellness and pension fund investment. Through original industry research studies, the magazine provides in-depth analysis of industry trends through feature stories, news and commentary. For more information, or to receive an April issue, contact: Kevin Press, Managing Editor (+1 416 596-59)