CPP Investments reports net return of 0.5% in ‘volatile’ Q3

CPP Investments says it had a net return of 0.5% in its third quarter, well below its longer-term track record.

The independent investment manager for the Canada Pension Plan says it ended the third quarter with $780.7 billion in net assets, up from $777.5 billion in the previous quarter.

John Graham, chief executive of CPP Investments, says the fund experienced a volatile quarter amid slowing growth and escalating geopolitical tensions.

He says the fund remains resilient and that it has stayed focused on the long term.

The fund had a 7% net return over the first three quarters of the year, while its 10-year annualized net return stands at 8.4%.

The $3.2 billion increase in net assets in the quarter came after $4 billion in net income and $800 million in net outflows to the CPP.

The Canadian Press

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