Assets of the Canada Pension Plan, Toronto, fell 7% to C$108.9 billion (US$88.2 billion) for the third fiscal quarter, ended Dec. 31, according to a news release by the CPP Investment Board.
The drop reflected a -6.7% investment return for the quarter.
Public equities made up 42.2% of total assets; fixed income, 27.8%; private equity, 15.3%; real estate, 7.1%; inflation-linked bonds, 4.2%; and infrastructure, 3.4%.
Sharp declines in global equity markets, especially in October and November, negatively impacted our results for the quarter, David Denison, president and CEO, said in a news release. However, looking beyond these short-term results, we continue to believe that our long investment horizon, steady cash inflows and broadly diversified portfolio will generate the longer-term results necessary to deliver on our multigenerational mandate.