CPP Investments earned 9.3% net return in latest fiscal year

The Canada Pension Plan Investment Board says it earned a net return of 9.3% for its latest fiscal year.

The board says the fund totalled $714.4 billion in net assets at March 31, up from $632.3 billion a year earlier. The increase included $59.8 billion in net income and $22.3 billion in net transfers from the Canada Pension Plan.

The result fell short of the fund’s benchmark portfolio return of 10.9%.

The fund says public equities — especially in the U.S. and China — delivered gains despite geopolitical and trade-related headwinds in its fourth quarter, while investments in private equities, infrastructure and credit also helped.

The strengthening of other currencies against the loonie also boosted results.

CPP Investments chief executive John Graham says the fund remains on a solid financial footing and is well positioned to deliver long-term value for current and future generations of Canadians.

“Our portfolio — diversified across sectors, themes, asset types and geographic markets — is built for the long term. And while we’re not immune to short-term market shifts, our strategy is designed to remain resilient despite periodic fluctuations,” Graham said in a statement.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.