CPP Investments says it had a net return of 0.5 per cent in its third quarter for a growth rate well below its longer-term track record.
The independent investment manager for the Canada Pension Plan says it ended the third quarter with $780.7 billion in net assets, up from $777.5 billion in the previous quarter.
Read: CPPIB returns 5.4% in Q2, net assets total $777.5 billion
John Graham, chief executive of CPP Investments, says the fund experienced a volatile quarter amid slowing growth and escalating geopolitical tensions. He says the fund remains resilient and that it has stayed focused on the long term.
The fund had a seven per cent net return over the first three quarters of the year, while its 10-year annualized net return stands at 8.4 per cent. The $3.2 billion increase in net assets in the quarter came after $4 billion in net income and $800 million in net outflows to the CPP.
Read: CPPIB returns 1% in fiscal Q1 2026, net assets total $731.7 billion