CPP Fund posts 11.6% on stock mar­kets surge

The Hamilton Spectator - - Business -

TORONTO — Canada Pen­sion Plan In­vest­ment Board says the main fund it man­ages for the na­tional re­tire­ment sys­tem in­creased its as­sets by $39.4 bil­lion over the fi­nan­cial year ended March 31, achiev­ing a net an­nual re­turn of 11.6 per cent. CPPIB’s chief ex­ec­u­tive of­fi­cer Mark Machin says the main driver of growth over the first nine months of fis­cal 2018 came from soar­ing pub­lic eq­uity mar­kets. The in­vest­ment port­fo­lio’s 10year real rate of re­turn, which is used as a bench­mark against as­sump­tions made by Canada’s chief ac­tu­ary, was 6.2 per cent while the five-year rate of re­turn was 10.4 per cent. The chief ac­tu­ary es­ti­mates the CPP Fund can meet its obli­ga­tions with an av­er­age re­turn of 3.9 per cent over 75 years.

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