The Canada Pension Plan Investment Board (CPPIB) delivered a gross investment return of 3.3% for the third quarter of fiscal 2015.
“The continuing climb in value across most international public equity markets contributed to the fund’s return this quarter, as did our private investments and fixed income assets,” says CPPIB president and CEO Mark Wiseman.
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The CPP fund ended the quarter with net assets of $238.8 billion, compared with $234.4 billion at the end of the previous quarter. The $4.4-billion increase in assets for the quarter consisted of $7.3 billion in net investment income after all CPPIB costs, less $2.9 billion in cash outflows.
For the nine-month fiscal year-to-date period, the CPP fund increased by $19.7 billion from $219.1 billion at March 31, 2014. This included $18.3 billion in net investment income after all CPPIB costs and $1.4 billion in net CPP contributions. The portfolio delivered a gross investment return of 8.4% during this period.
“Our globally diversified investments continue to benefit the fund, providing total portfolio resiliency against significant fluctuations within specific sectors or geographies, such as the rapid decline in oil prices recently,” he adds.
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