Canada Pension Plan Investment Board says its fund, which includes the combination of the base CPP and additional CPP accounts, earned a net return of 6.8% for its latest fiscal year.
The board says the gains for the year ended March 31 brought its net assets to $539 billion compared with $497 billion a year earlier.
The increase included $34 billion in net income and $8 billion in net transfers from the Canada Pension Plan.
The board says private equity, infrastructure, real estate and credit investments were the main contributors to the fund’s overall performance for the year.
It added that the volatility affecting public equities during the final quarter muted returns achieved earlier in the year, while bond prices also fell in the fourth quarter.
CPPIB CEO John Graham says the fund delivered solid returns despite turbulent market conditions in the wake of Russia’s war on Ukraine, supply chain disruptions caused by the pandemic and rising inflation.