CPPIB assets reach more than $420 billion in fiscal Q3

The Canada Pension Plan Investment Board generated a net income of $14.5 billion for its third fiscal quarter, rounding out a 7.1 per cent return for the nine months of its fiscal year so far.

With $3.6 billion in net Canada Pension Plan outflows for the quarter, which ended Dec. 31, 2019, the fund saw a total quarterly increase of $10.9 billion, bringing total net assets to $420.4 billion.

“All of our investment departments contributed to a very solid quarter, advancing the fund,” said Mark Machin, president and chief executive officer at the CPPIB, in a press release. “Financial results and operational performance across CPP Investments’ global active programs remain strong, although the relative value of the Canadian dollar, against several foreign currencies, affected overall results.”

Read: CPPIB posts 2.3% return in Q2, reaching $409.5 billion in assets

Public equities remain the largest portion of the portfolio at 30.7 per cent, totalling $128.8 billion. Foreign stocks comprise the largest component, at 18.9 per cent, with emerging stocks at 9.8 per cent with Canadian equities making up just two per cent.

Private equities saw an increase during the third quarter, rising from $98.9 billion to $104.6 billion, coming to 24.9 per cent of the overall portfolio.

The fund’s bond holdings ticked down during the quarter, from $90.7 billion to $84.2 billion, bringing it to 20 per cent of the overall portfolio, down from 22.2 per cent.

Read: Canadian DB plans return 14% for 2019: RBC