CPP Investment Board, Toronto, which manages the assets of the Canada Pension Plan, had a “marginally negative” investment return of 0.14% for the fourth quarter, a spokesman for the C$119.4 billion (US$119.6 billion) plan confirmed. The investment loss, combined with benefits payments, dropped total assets by 1.6% from C$121.3 billion as of Sept. 30. Investments returned 10.1% for the four years ended Dec. 31.
The quarterly results “reflected the markets’ volatility, and in the early part of 2008, we are seeing volatility intensify,” David Denison, president and CEO of the CPP Investment Board, said in a news release. The fund’s asset allocation is 54% public equities; 25.6% fixed income; 9.5% private equity; 5.4% real estate; 3.3% inflation-linked bonds; and 2.2% infrastructure.
