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CPPIB notches 3.3 pct return in third quarter as stocks rise: Reuters

(Reuters) – The Canada Pension Plan Investment Board (CPPIB), one of the world’s biggest pension funds, on Friday reported gross investment returns of 3.3 percent for its fiscal third quarter as strength in global equity markets boosted returns.

CPPIB, which manages Canada’s national pension fund and is a major global dealmaker, ended the quarter with net assets of $238.8 billion (US$191.3 billion), versus $234.4 billion at the end of the second quarter in November.

Chief Executive Officer Mark Wiseman said CPPIB’s private investments and fixed income assets also bolstered returns, while the fund’s scale and diversification across asset classes helped offset volatility in resource prices.

“Our globally diversified investments continue to benefit the fund, providing total portfolio resiliency against significant fluctuations within specific sectors or geographies, such as the rapid decline in oil prices recently,” Wiseman said.

The increase in assets also reflects asset flows into the fund.

(Reporting by Andrea Hopkins; Editing by Jeffrey Benkoe)

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