Canadian pension plan sponsors achieved yet another positive quarter extending their gains for the year

TORONTO, Nov. 3, 2025 /CNW/ - The median return of the BNY Canadian Asset Strategy View universe, a BNY Global Risk Solutions fund-level tracking service, was 3.98% for the third quarter of 2025. The one-year median return as of September 30, 2025, was 9.40%, while the median 10-year annualized return was 7.14%.

The BNY Canadian Asset Strategy View universe results are based on $349 billion worth of investment assets in Canadian investment plans, with the average plan size of $5.13 billion. The universe is designed to provide peer comparisons by plan type and size, and it comprises 68 Canadian corporate, public, university pension plans and foundations & endowments. Additional insight into the plan results is provided by BNY's Asset Strategy View sub asset class universes.

"In Q3, global financial markets witnessed strong gains driven primarily by continued strength in AI and technology stocks, bullish corporate earnings and supportive monetary policies globally," said David Cohen, Director of Global Risk Solutions, BNY. "Inflation remained elevated in many regions with tariffs and political tensions continuing to be a major concern. We are also witnessing slowing global economic growth. Despite these conditions, Canadian pension plans delivered strong performance in the quarter with positive contributions from all major public and private asset classes."

Among traditional asset classes, Canadian Equity posted the highest performance, with a quarterly median return of 8.99%. Canadian Fixed Income returns were the lowest, posting a quarterly return of 1.71%.

With respect to non-traditional asset classes, Private Equity delivered the strongest performance, with a quarterly median return of 5.41%. Hedge Funds ended the quarter with a median return of 5.08% while Real Estate delivered a 1.57% quarterly return.

• The BNY Asset Strategy View universe of Canadian pension plans over $1 billion outperformed the median return of the Total Canadian Asset Strategy View Universe in Q3 2025.
• Foundations & Endowments posted a median performance of 5.27% for the third quarter, exceeding both Public and Corporate Pension Plans.
• All major equity segments posted positive returns in Q3.
  • Canadian Equity posted a median return of 8.99% in the third quarter, behind the S&P/TSX Composite Index return of 12.50%.
  • U.S. Equity posted a median return of 8.39%, lagging the S&P 500 Index return of 10.26%.
  • Global Equity reported a median return of 7.57% in Q3, underperforming the MSCI World Index return of 9.48%.
  • International Equity posted a quarterly median return of 8.61%, exceeding the MSCI EAFE Index return of 6.90%
• Emerging Markets Equity posted a positive median performance for the quarter of 13.14%, on par with the MSCI Emerging Markets Index return of 13.13%.
• The Canadian Fixed Income median return was 1.71% in the third quarter of 2025. Fixed Income outperformed relative to the FTSE Canada Universe Bond Index for the quarter, which returned 1.51%.
• Private Equity reported a quarterly median return of 5.41% for the third quarter, Real Estate reported a quarterly median return of 1.57%. Hedge Funds reported a return of 5.08%.

BNY Canadian Asset Strategy View Universe Median Plan Returns*

About CIBC Mellon

CIBC Mellon is a Canadian company exclusively focused on the investment servicing needs of Canadian institutional investors and international institutional investors into Canada. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon (BNY) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon's investment servicing solutions for institutions and corporations are provided in close collaboration with our parent companies, and include custody, multicurrency accounting, fund administration, recordkeeping, pension services, exchange-traded fund services, securities lending services, foreign exchange processing and settlement, and treasury services. As at September 30, 2025, CIBC Mellon had more than C$3.3 trillion of assets under administration on behalf of banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada. CIBC Mellon is part of the BNY network, which as at September 30, 2025, had US$57.8 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY trade-marks, is the corporate brand of CIBC Mellon Global Securities Services Company and CIBC Mellon Trust Company, and may be used as a generic term to refer to either or both companies.

Information containing any historical information, data or analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Past performance does not guarantee future results. The Information should not be relied on and is not a substitute for the skill, judgment and experience of the user, its management, employees, advisors and/or clients when making investment and other business decisions. None of the Information constitutes an offer to sell (or a solicitation of an offer to buy), any security, financial product or other investment vehicle or any trading strategy. Some products or services are available only through BNY.

For more information, including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada, visit www.cibcmellon.com.

Media Contact:

Alexandra DeCata, Corporate Communications, CIBC Mellon, 416-643-6126, alexandra.decata@cibcmellon.com

SOURCE CIBC Mellon