A relatively flat quarter for the CPP Fund
BY Staff | November 12, 2018
The Canada Pension Plan Investment Board announced that the CPP Fund ended its second quarter of fiscal 2019 (September 30, 2018), with a $1.7 billion increase in assets. This consisted of $2.3 billion in net income after all CPPIB costs, less $0.6 billion in net CPP cash outflows.
It put the fund at total net assets of $368.3 billion, compared to $366.6 billion at the end of the previous quarter.
“While returns were relatively flat in the second quarter, our teams performed well against our underlying investment strategy,” says Mark Machin, President & Chief Executive Officer of the CPPIB said in a press 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.”