CPP Investments increases assets by nearly $13b despite COVID-19

Canada Pension Plan Investment Board has reported C$409.6 billion ($296.4 billion) in net assets at the end of the fiscal year ending March 31, surpassing last year’s amount of C$392 billion ($283.7 billion). This represents an increase of $17.6 billion ($12.7 billion).

CPP Investments noted that the fund achieved 10-year and five-year annualized net nominal returns of 9.9 percent and 7.7 percent, respectively. For the fiscal year, the fund returned 3.1 percent net of all CPP Investments costs.

“The COVID-19 pandemic poses a massive challenge for health, societies and economies globally,” said Mark Machin, president and CEO of CPP Investments. “Amid the significant number of concerns many Canadians have today, the sustainability of the fund is one thing they shouldn't worry about.”

A main propellant of fund performance were steady gains from global active investment programs over the first three quarters of the fiscal year, according to CPP Investments