Canada Pension Plan Investment Board grows assets by $11.8b

Canada Pension Plan Investment Board (CPP Investments) has increased its assets by C$10.9 billion ($11.8 billion), in the third quarter ending Dec. 31, 2019. The pension fund now has C$420.4 billion ($455 billion) in net assets compared to C$409.5 billion ($443 billion) at the end of the previous quarter.

“All of our investment departments contributed to a very solid quarter, advancing the fund,” said Mark Machin, president and CEO of CPP Investments in a statement. “Financial results and operational performance across CPP Investments’ global active programs remain strong, although the relative value of the Canadian dollar, against several foreign currencies, affected overall results.”

The fund, which includes the combination of the base CPP and additional CPP accounts, achieved both 10-year and five-year annualized net nominal returns of 10.4 percent. For the quarter, the fund returned 3.6 percent net of all CPP Investments costs.

As of December, CPP