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CPP Investments Posts 1% Q1 Return as Net Assets Climb to $731.7 Billion

Management highlights diversified global holdings with CPP inflows serving as buffers against tariff-related volatility

Signage is seen in the reception of CPP Investments' Toronto offices, on Thursday, Sept. 21, 2023. THE CANADIAN PRESS/Chris Young

Overview

  • CPP Investments earned a net return of 1% in the quarter ended June 30 as net assets rose from $714.4 billion to $731.7 billion.
  • The increase in assets included $7.5 billion in net investment income alongside $9.8 billion of net transfers from the Canada Pension Plan.
  • Public equities rebounded by quarter end and energy assets plus external manager programs drove gains while a weaker U.S. dollar offset some returns.
  • CEO John Graham said shifting trade dynamics and geopolitical uncertainty fueled market volatility but the fund’s diversified strategy maintained resilience.
  • The board reported a 10-year annualized net return of 8.4% and noted that early-year CPP contributions typically outpace benefit payments.