Public Sector Pension Investment Board (PSP Investments) has ended the fiscal year on March 31, 2023, with its infrastructure net assets under management of $29.4 billion, a $5.9 billion increase from the end of the previous fiscal year, and generated portfolio income of $4.6 billion.
The five-year annualized return of 10.5 percent outperformed the 4.8 percent benchmark return. The evolution of the portfolio was driven by acquisitions of $4.2 billion, valuation gains of $1.8 billion and $1.6 billion in currency gains, partially offset by $1.7 billion in dispositions and financing proceeds. The portfolio demonstrated strong performance, according to a report, benefiting from the current high inflationary environment despite generally higher discount rates. The industrials sector, more specifically the transportation sector, was the primary contributor to the portfolio’s income, while the communications sector also contributed substantially.
Overall, the Public Sector
