The Canada Pension Plan Investment Board eked out a gain of 0.2 per cent in a fiscal second quarter that was tough for investors, adding $1-billion to the fund’s assets in spite of broad weakness in public and private equities as well as fixed income markets.
But CPPIB narrowly trailed the performance of Canadian defined-benefit pension plans in the quarter, in which assets were up 0.5 per cent, according to Royal Bank of Canada’s RBC I&TS All Plan Universe. In the first nine months of the year, those pension plans have lost 13.7 per cent. As of Sept. 30, CPPIB had $529-billion of assets, up 1 per cent from $523-billion in the previous quarter, as $5-billion in contributions from the Canada Pension Plan added to modest investment gains.
“Our portfolio remains resilient despite inflationary pressures, increases in central bank rates and the continued impact of the war in Ukraine, which resulted in the continued decline in global financial markets during the quarter,” chief executive officer John Graham said in a prepared statement.
'Canada Pension Plan Investment Board ekes out small gain on investments in second quarter' That's better than a lot of us did!
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: globeandmail - 🏆 5. / 92 Read more »