CPPIB returns net 6.8% for fiscal year
Canada Pension Plan Investment Board returned a net 6.8% for the fiscal year ended March 31, the Toronto-based board announced in a news release Thursday.
CPPIB, which manages the assets of the Canada Pension Plan, said the pension fund’s net assets increased to C$539 billion ($431.8 billion) from C$497 billion a year ago. It added that the C$42 billion increase comprised $34 billion in net income and $8 billion in net transfers from the plan.
The portfolio achieved five-year and 10-year annualized net returns of 10% and 10.8%, respectively, CPP Investments said. In fiscal 2021, the fund returned a net 20.4%.
“CPP Investments delivered solid returns in fiscal 2022 despite turbulent market conditions in the wake of Russia’s war on Ukraine, supply chain disruptions caused by the pandemic and rising inflation,” stated John Graham, president & CEO, in the release.
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