CPPIB posts 1.5 pct investment gain in latest quarter: Reuters

The Canada Pension Plan Investment Board, the nation’s biggest pubic retirement fund, said it delivered gross investment returns of 1.5 percent in the latest quarter, pegged back by market volatility.

The CPPIB, which manages Canada’s national pension fund and invests on behalf of 19 million Canadians, said on Thursday that it ended the first quarter to June 30 with net assets of $287.3 billion, compared with $278.9 billion three months earlier.

Chief Executive Officer Mark Machin said in a statement that global investors had experienced on-going volatility during the quarter, generating mixed results across major equity markets.

“Amid these challenges the fund’s increase was primarily driven by positive fixed income performance, public equity gains in Canada and the U.S., and the performance of our private asset portfolio,” he said.

About a third of investments remain in public equity markets, although the fund has diversified in recent years by buying directly into alternatives such as infrastructure and real estate.

Machin became CEO in June, replacing Mark Wiseman who stepped down ahead of taking a senior position with BlackRock Inc, the world’s largest asset manager.

(Reporting by Matt Scuffham; Editing by Chizu Nomiyama and Lisa Von Ahn)

Photo courtesy of Canada Pension Plan Investment Board