The Public Sector Pension Investment Board (PSP Investments) concluded its fiscal year on March 31 with a 12.6 percent one-year net return, surpassing the one-year reference portfolio return by 1.5 percent. One of the key drivers of this strong performance was the infrastructure portfolio, which played a significant role in the overall outperformance.
Net assets under management (AUM) grew to C$299.7 billion ($219.8 billion), a 13.2 percent increase over the previous fiscal year, primarily driven by C$33.5 billion ($24.6 billion) of net income. Net transfers reached C$1.3 billion ($954 million), which included C$3.2 billion ($2.4 billion) received from the federal government for the funding of the plans and C$1.9 billion ($1.4 billion) that PSP Investments transferred back to the Consolidated Revenue Fund from a “non-permitted surplus,” as defined under the Public Service Superannuation Act, which limits the amount the Public Service Pension Fund can be overfunded.
