Canada Pension Plan Investment Board's investment portfolio returned a net 5.6% for the quarter ended June 30, the Toronto-based board announced in a news release Monday.
The C$434.4 billion ($317.8 billion) pension fund investment board's portfolio returned an annualized net 8.9% and 10.7% for the five and 10 years ended June 30, respectively.
The pension fund's assets increased C$24.8 billion during the first quarter of its fiscal year 2021 from C$409.6 billion as of March 31. The news release attributed the increase to C$22.9 billion in net income after all CPPIB costs and C$1.9 billion in net contributions.
"While global financial markets experienced a strong rebound from March, significant uncertainty in health, social and economic conditions persists," said Mark Machin, CPPIB's president and CEO, in the news release. "Amid this environment, CPP Investments delivered solid performance, while our investment teams were active in creating long-term value across our diversified programs."
Individual asset class returns for the quarter ended June 30 were not disclosed.
As of June 30, CPPIB's actual allocation was 31.2% public equities, 24.3% private equity, 22.6% each government bonds and real assets, 12.4% credit, -9.1% external debt issuance, and -4% cash and absolute-return strategies.
The negative allocation in cash and absolute-return strategies represents the net amount of financing through derivatives and repurchase agreements and the current net position from absolute-return strategies, the news release said.
