ontario news watch

CPP Investments earned 0.1% net return in second quarter

TORONTO — The Canada Pension Plan Investment Board earned a net return of 0.1 per cent in its second quarter.

The fund manager says it saw losses in fixed income and weakness in public equities as global markets declined.

Offsetting the losses were strength in credit and private equities and gains in U.S. dollar-denominated assets, which were helped by a strengthening U.S. dollar relative to the loonie.

CPP Investments chief executive John Graham says the fund’s diversified portfolio remains resilient.

CPP Investments says net assets totalled $576 billion at Sept. 30, up from $575 billion at the end of the previous quarter.

It says the increase for the fund’s second quarter included $488 million in net income and $700 million in net transfers from the Canada Pension Plan.

This report by The Canadian Press was first published Nov. 9, 2023.

The Canadian Press