CPP Investments reported net assets of C$777.5bn at the end of the second quarter of fiscal 2026, up from C$760.5bn in the previous quarter.

The Fund delivered a net return of C$17bn, or 2.7%, driven by strong performance in public markets and credit.

Public Market Investments generated a 5.8% return, supported by listed equities and credit income. Active Equities returned 4.5%, while Capital Markets and Factor Investing returned 3.4%. Credit Investments delivered a 5.8% gain. Private equity recorded a -4.5% return as valuations declined across several portfolio companies.

The Fund’s five-year annualised net return stands at 9.2%, with the ten-year annualised figure at 9.9%. Six-month net assets increased by C$21.7bn. Contribution inflows during the quarter totalled C$3.3bn.

“The Fund continues to benefit from our diversified approach and from owning high-quality assets around the world,” said President and CEO John Graham. “In this environment, we remain disciplined in line with our purpose to help pay pensions not only today, but for many decades to come, through many different economic cycles.”

CPP Investments completed C$19bn in equity and credit investments during the quarter, including C$4.3bn of additions to its active-private portfolio. The organisation also issued a US$460m green bond and continued expanding its platform across private equity, real assets, and credit strategies.

Portfolio leverage was 20.4%. Operational expenses were 33.5 basis points of average net assets, and investment-transaction expenses were 11.2 basis points. CPP Investments’ ten-year cumulative net value-added reached C$58.6bn as the Fund maintained its long-term focus on diversified global investments across public and private markets.

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