CPP Investments Reports Strong Return for First Quarter
10% net return driven by strong performance across asset classes
Investment firm's net assets increase by $144 billion
CPP Investments, Canada's largest pension fund manager, reported a net return of 10% for its first quarter, driven by strong performance across all asset classes.
The fund's net assets increased by $144 billion to $694 billion during the quarter, including $63 billion in net income and $81 billion in unrealized gains.
The fund's strong performance was driven by several factors, including:
*- Strong equity market performance
- Positive fixed income returns
- Strong real estate and infrastructure returns
CPP Investments CEO Mark Wiseman said in a statement that the fund's diversified portfolio and long-term investment horizon helped it to weather the market volatility caused by the COVID-19 pandemic.
"Our focus on long-term value creation and our commitment to a disciplined investment process have served us well during this challenging period," Wiseman said.
CPP Investments is a professional investment management organization that manages the funds of the Canada Pension Plan (CPP), one of the largest pension funds in the world.
The CPP is a contributory pension plan that provides retirement income to Canadian workers. CPP Investments invests the CPP's assets to maximize long-term returns for the benefit of CPP contributors and beneficiaries.
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