The Canada Pension Plan Investment Board (CPPIB) delivered a 1.6% return in the first quarter of fiscal 2015, due, in part, to a rise in Canadian equities.
The CPP fund ended its first quarter of fiscal 2015 on June 30, 2014, with net assets of $226.8 billion, compared with $219.1 billion at the end of fiscal 2014.
The $7.7-billion increase in assets for the quarter consisted of $3.4 billion in net investment income after operating costs and $4.3 billion in net CPP contributions.
“All of our programs reported positive investment returns during the quarter, and we continued to further diversify the portfolio globally across various asset classes,” says CPPIB president and CEO Mark Wiseman.
During the quarter, the fund made a number of investments. It purchased a stake in financial information services firm Markit, bought a piece of a midtown Manhattan office building and invested in Citycon, a leading owner and developer of shopping centres in the Nordic region.
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