CPP Investment Board’s net assets grow by $6bn

The second quarter of the Canada Pension Plan Investment Board showed a rise in net assets to $529 billion from $523 billion at the end of the first quarter.

Comparing the most recent quarter to the previous one, net assets increased by $6 billion, made up of $5 billion in net transfers from the Canada Pension Plan and $1 billion in net revenue (CPP).

According to CPPIB, its fund, which consists of both the standard CPP and extra CPP accounts, generated a return of 0.2 per cent for the quarter, outpacing the performance of the top global indices and improving on the 4.2 per cent loss it experienced in the previous quarter.

The fund’s net returns were down 4% for the six months that ended on September 30. The portfolio is still strong, according to CPPIB President and CEO John Graham, despite inflation, rising interest rates, and the conflict in Ukraine.

The fund’s net returns over five and ten years were 9.5% and 10.1%, respectively.

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