The Canada Pension Plan fund returned a modest 1.8 per cent in the first quarter of fiscal 2019.

It ended the quarter, on June 30, 2018, with net assets of $366.6 billion, compared to $356.1 billion at the end of fiscal 2018. The $10.5 billion increase in assets for the quarter consisted of $6.6 billion in net income after all Canada Pension Plan Investment Board costs and $3.9 billion in net CPP contributions.

“While performance was solid across our investment departments, our private assets did particularly well. Global equity markets maintained positive performance this quarter, contributing to fund growth,” said Mark Machin, president and chief executive officer of the CPPIB, in a news release.

Read: CPPIB posts 11.6% return for 2018 fiscal year

“While we focus on strong average returns stretching well beyond five and 10 years, solid performance today cushions the fund for an inevitable future market downturn. We are confident that our investment strategy will continue to serve the fund through multiple economic cycles.”

Investment highlights in the first quarter of fiscal 2019 included:

Read: CPPIB issuing green bonds, investing in Chinese tech company

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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