Canada Pension Plan, Ottawa, returned a net 3.4% on its investments in the 12 months ended March 31, the plan's fiscal year.
The plan boosted its overall assets to C$278.9 billion ($214.1 billion) as of March 31, up 5.4% from 12 months earlier, according to a news release from CPP Investment Board, Toronto, which manages the plan's assets.
The fiscal year return was below the 18.3% for the 12 months ended March 31, 2015.
Of the C$14.3 billion in assets added in the fiscal year, C$9.1 billion came from investment income.
Emerging markets private equity had the highest return in the latest fiscal year, at 17%, followed by real estate at 12.3% and infrastructure at 9.3%. In public equities, Canadian equity returned 6.4%; foreign equity, -2.8%; and emerging markets, -8.7%. In private equity, Canadian equity returned 4.2% and foreign equity, 8.6%.
Foreign fixed income returned 5.6% and Canadian fixed income, 2.4%. Non-marketable bonds returned -0.2%, and other debt, 7.9%.
CPP's asset allocation as of March 31 was 40.6% combined foreign developed markets public and private equity, 16.1% fixed income, 13.2% real estate, 8.9% non-marketable bonds, 7.6% infrastructure, 7.5% other debt, 6.3% combined public and private emerging markets equity, and 5.4% combined public and private Canadian equity. The board does not separate its public and private equity assets in individual asset classes, and it includes a -5.6% for debt financing liabilities.