Canada Pension Plan’s Net Assets Top $500bn

The Canada Pension Plan Investment Board’s net assets topped half a trillion dollars in its first quarter.

CPP Investments reported that its net assets for the quarter ended June 30 totaled $519.6bn, up from $497.2 bn at March 31. The increase came as the fund earned a return of 3.5%, net of all costs, for the quarter.

The $22.4bn increase in net assets included $17.7bn in net income after costs, and $4.7bn in net Canada Pension Plan contributions.

CPP Investments said the results were driven by ongoing strength in public equity markets, gains from its private equity, and real assets programs, and contributions from credit investments.

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A strong Canadian dollar partially offset some of the gains.

“CPP Investments delivered solid results to open the fiscal year, vaulting the Fund well beyond the half-trillion mark in assets,” CPP Investments Chief Executive John Graham said in a news release.

Source: Baystreet

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