Canada Pension Plan Investment Board sees net assets grow by $6 billion

By The Canadian Press | November 11, 2022 | Last updated on November 11, 2022
1 min read
Canada Pension Plan CPP written on a sheet on an office table
© Vitaliy Vodolazskyy / 123RF Stock Photo

Canada Pension Plan Investment Board saw its net assets grow to $529 billion in its second quarter, compared with $523 billion at the end of the previous quarter.

Net assets grew by $6 billion compared with the previous quarter, consisting of $1 billion in net income and $5 billion in net transfers from the Canada Pension Plan (CPP).

CPPIB says its fund, which includes the combination of the base CPP and additional CPP accounts, returned 0.2% for the quarter, outperforming leading global indices and up from a loss of 4.2% last quarter.

For the six-month period ending Sept. 30, the fund saw negative net returns of four per cent.

CPPIB president and CEO John Graham says the portfolio remains resilient despite inflation, increasing interest rates, and the war in Ukraine.

The fund saw five-year and 10-year net returns of 9.5% and 10.1%, respectively.

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