CPP Investments posts 1% return for Q1, sees net assets climb to $646.8B

Canada Pension Plan Investment Board reports a net return of 1.0 percent in the first quarter, driven by investments in public equities and private asset classes.

At the end of June 30, the pension fund manager’s net assets stood at $646.8 billion, up from $632.3 billion in the previous quarter.

The $14.4 billion increase in net assets included $6.3 billion in net income and $8.1 billion in net transfers from the Canada Pension Plan.

CPP Investments attributes the gains to investments in public equities and private asset classes, especially in credit and U.S.-dollar denominated assets.

However, the fund’s investments in government bonds faced challenges as global markets adjusted rate cut expectations by central banks.

The fund’s 10-year annualized net return was 9.1 percent.

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