Canada Pension Plan Investment Board, Toronto, returned 0.5% in the quarter ended June 30, the first quarter of the board's fiscal year 2013, according to a news release on the board's website.
Net assets increased to C$165.8 billion (US$167.2 billion), up 2.6% from three months earlier. The increase comes from C$3.5 billion in net CPP contributions and C$800 million in investment income.
The plan has a current asset allocation of 34% public equity, 32.7% fixed income, 16.9% private equity, 10.7% real estate and 5.7% infrastructure.
“Our investment portfolio, broadly diversified across asset classes and geography, contributed to the fund's performance despite a turbulent market environment,” said Mark Wiseman, president and CEO, in the release. “While all major equity indices were down during the quarter, the positive contributions from our diversified active programs delivered stability overall.”
Separately, the CPPIB announced it launched an US$890 million logistics and industrial partnership with real estate manager Goodman Group, called the Goodman North America Partnership. CPPIB will invest US$400 million.
The strategy will target investments in key North American markets, according to a news release. It is CPPIB's first direct investment in U.S. industrial real estate.