As such, plans with unhedged exposure to non-Canadian equities were somewhat sheltered from local currency losses. The Canadian dollar weakened against its US counterpart. ![]() While all economic sectors experienced negative returns, energy fared the worst (and information technology took the lead). MSCI World Index posted a quarterly return of -13.3 per cent, with growth stocks considerably outperforming value stocks. Canadian defined benefit pension plans in the RBC Investor & Treasury Services All Plan Universe experienced their steepest decline since 2008, posting a median return of -7.1 per cent for the quarter. Worldwide financial markets sold off, commodity prices plunged and governments and central banks initiated aggressive measures to cushion the blow. ![]() ![]() TORONTO, April 29, 2020 - During the first quarter of 2020, the global economy came to a virtual standstill on account of COVID-19 containment measures.
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