The Canada Pension Plan Investment Board (CPPIB) is reporting that the CPP Fund had net assets of $356.1 billion as of March 31, the end of its last fiscal year.
That’s up from $316.7 billion from the previous year, with the $39.4 billion increase in assets consisting of “$36.7 billion in net income after all CPPIB costs and $2.7 billion in net Canada Pension Plan (CPP) contributions,” reports the board.
“The Fund reached a new high of $356.1 billion at the end of our fiscal year due to continued strong equity markets,” says Mark Machin, President & Chief Executive Officer.
“Soaring public equity markets through the first nine months of the fiscal year were the primary source of growth. As volatility returned during the fourth quarter, our private holdings proved resilient, adding significant value.”
The board continues that its “investment portfolio achieved 10-year and five-year annualized net nominal returns of eight per cent and 12.1 per cent, respectively, and that for the fiscal year the investment portfolio returned 11.6 per cent net of all CPPIB costs.
During the fiscal year just ended the board “continued to prudently execute its long-term investment strategy of seeking value-building growth while also diversifying the CPP Fund across multiple geographies and asset classes. All of CPPIB’s investment departments provided positive returns in the fiscal year,” it reports.
“Our investment teams continue to execute on diversification,” Machin says.
“Our investment framework actively seeks to manage risk, maintain balance and help contribute to the sustainability of the CPP itself. While we don’t expect every investment department to produce gains in any given year by design, all our departments made strong contributions this fiscal year.”
More: CPPIB maintains long-term perspective: Machin.

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