CPP Investments earned 3.6% return in Q2

The Canada Pension Plan Investment Board says its fund earned a net return of 3.6% in its second quarter.

CPP Investments chief executive John Graham says despite heightened volatility during the quarter, the fund’s diversified portfolio delivered stable returns, with positive performance across asset classes and geographies.

The pension fund says its net assets rose to $675.1 billion as of Sept. 30.

The increase came as the fund earned $23.1 billion in net income and saw $5.2 billion in net Canada Pension Plan cash inflows.

The fund says rising prices of U.S. equities lifted its performance during the quarter, while interest rate cuts in developed markets led to fixed income gains.

It says strong performance in infrastructure and credit investments further bolstered results, although foreign exchange had an overall negative impact due to the appreciation of the loonie against the U.S. dollar.

The Canadian Press

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