CPP Fund grows to $366.6 bil­lion at end of June, per­for­mance re­mains on track

Waterloo Region Record - - Business -

TORONTO — Canada Pen­sion Plan In­vest­ment Board says its main fund grew to $366.6 bil­lion of net as­sets at the end of June, up $10.5 bil­lion from the end of March.

The Toronto-based fund man­ager says CPP Fund’s gain in­cluded $3.9 bil­lion of net con­tri­bu­tions from the Canada Pen­sion Plan and $6.6 bil­lion from its in­vest­ments, af­ter all CPPIB costs.

CPPIB is an in­de­pen­dent fund man­ager that man­ages funds for the Canada Pen­sion Plan, which re­ceives con­tri­bu­tions from em­ploy­ers and em­ploy­ees in most of the coun­try ex­cept Que­bec, which has a sim­i­lar sys­tem of its own.

The re­sults from the first quar­ter of CPPIB’s 2018-19 fi­nan­cial year give its fund a real rate of re­turn of 10.4 per cent over five years and 6.4 per cent over 10 years.

Canada’s chief ac­tu­ary has es­ti­mated that the Cana­dian Pen­sion Plan In­vest­ment Board’s real rate of re­turn needs to av­er­age 3.9 per cent over the 75 years of the pro­jec­tion pe­riod in or­der to be sus­tain­able.

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