CPP Fund reports Q2 net return of 0.6%

By Staff | November 9, 2018 | Last updated on November 9, 2018
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The Canada Pension Plan Fund reported a net return of 0.6% for the second quarter of its fiscal year.

The fund’s net assets of $368.3 billion on Sept. 30 marked a rise of $1.7 billion from the previous quarter.

“While returns were relatively flat in the second quarter, our teams performed well against our underlying investment strategy,” said Mark Machin, president and CEO at Canada Pension Plan Investment Board, in a release.

“Foreign currency exchange-rate declines relative to the Canadian dollar were the fund’s main headwind during the quarter, offsetting strong local currency performance.”

CPP’s portfolio had a net return of 2.5% for the first six months of the fiscal year. The CPP Fund has increased by $12.2 billion so far this fiscal year—from $8.9 billion in net income and $3.3 billion in net CPP cash inflows.

The fund’s annualized net nominal return was 12.1% over five years and 9.1% over 10 years, the CPPIB said.

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