Canada Pension Fund Delivers 4.75% Quarterly Return
November 10 2016 - 12:30PM
Dow Jones News
Canada's biggest pension fund generated a net investment return
of 4.75% in its fiscal second quarter, fueled by gains across
public markets and private-equity and credit assets.
Canada Pension Plan Investment Board said Thursday that net
assets for the fiscal quarter ended Sept. 30 totaled 300.5 billion
Canadian dollars ($225 billion), up from C$287.3 billion at the end
of its fiscal first quarter.
The C$13.2 billion increase consisted of investment income of
$13.6 billion, offset by C$400 million of pension plan cash
outflows, it said.
For the first six months of fiscal 2017, the fund generated a
net investment return of 6.3%.
"All investment departments contributed to the fund's overall
performance," Chief Executive Mark Machin said in a release.
"Longer-term returns demonstrate the prudence of our disciplined
investment strategy to help sustain the fund over multiple
generations," he added.
Mr. Machin took the helm of the Canadian fund in June from Mark
Wiseman, who joined BlackRock Inc. Mr. Machin was previously head
of the fund's international operations.
CPPIB focuses on diversifying its holdings geographically and in
public and private asset classes to help guard against volatility
in a bid to outperform over the long term during down markets.
Among its investments in its most recent quarter were the
purchase of an additional stake in India's Kotak Mahindra Bank, a
private-sector bank holding company, picking up a minority stake in
the parent company of Viking Cruises in partnership with TPG
Capital, and the acquisition of insurance operations connected with
Lloyd's of London.
Write to Judy McKinnon at judy.mckinnon@wsj.com
(END) Dow Jones Newswires
November 10, 2016 12:15 ET (17:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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