The Russell/Mellon Total Fund Canadian Trust Universe posted a median return of 3.5% for the second quarter of 2005. Canadian Fixed Income holdings led major asset classes and contributedstrongly to the performance of the median Canadian pension fund for the quarter.
Globally, Russell/Mellon Trust Universes consist of total-fund and asset class performance universes, representing 644 corporate defined benefit pension plans, foundations, endowments and public funds representing $1.7 trillion in assets.
“This quarter saw a strong showing across all major asset classes. Over the past year Canadian equities have led the charge, posting a 9.0% gain year-to-date, while other assets classes have lagged,” said Shawn Menard, managing director of Russell/Mellon Canada, Inc. “In addition, this quarter saw a resurgence within the fixed income asset class, which was the highest performer, contributing 4.5% in the second quarter and 5.6% year to date.”
Energy stocks propelled the Canadian equity market higher, as Canadian equity portfolios posted a median return of 4.0%, making it the second strongest asset class of the quarter. International equity markets achieved a 1.0% return over the same period while U.S. equity portfolios rallied to provide a 2.6% return for the quarter.
Russell/Mellon provides performance measurement, attribution, and investment analysis services to over 3,300 institutional investors in 25 countries and is responsible for $6 trillion in assets under measurement. Russell/Mellon’s professional staff consists of over 650 associates operating in 11 cities in five countries.