Why Axis

Canada’s 10 biggest pension funds have lost an estimated $104 billion in public equity amid market chaos

When the S&P 500 closed at a record high on February 19, Canada’s major pension plans, with more than a quarter of their investments in stocks, were in a comfortable position in spite of the looming coronavirus pandemic.

Five weeks later, Canada’s 10 largest pension funds—upon which millions of Canadians are relying for retirement—have lost an estimated $104 billion, according to an analysis by The Logic.

But not all pensions are created equal, and while some—including the country’s largest, the Canada Pension Plan Investment Board (CPPIB)—have high exposure to public markets, others have managed to mostly skirt the crash that has seen the S&P 500 lose roughly US$8 trillion this year. 

    Subscribe now to start reading premium, award-winning journalism.

    By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.

    In-depth, agenda-setting reporting

    Great journalism delivered straight to your inbox.

    Briefing

    Caisse, Westcap file for representation in Celsius bankruptcy proceedings

    Dye & Durham’s bid to buy Link Group falls through

    Imax to buy Waterloo AI firm Ssimwave in deal worth up to $25M

    Best business newsletter in Canada

    Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.

    Exclusive events

    See the bigger picture with reporters and industry experts in subscriber-exclusive events.

    Membership in The Logic Council

    Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.

    Canada's most influential executives and policymakers are reading The Logic

    • CPP Investments
    • Sun Life Financial
    • C100
    • Amazon
    • Telus
    • Mastercard
    • bdc
    • Shopify
    • Rogers
    • RBC
    • General Motors
    • MaRS
    • Government of Canada
    • Uber
    • Loblaw Companies Limited