President and CEO John Graham said in a statement that gains in most asset classes were offset by the impact of exchange rate losses from the Canadian dollar’s appreciation against the US dollar. (Photo: The Canadian Press)
TORONTO — The Canada Pension Plan Investment Board said Thursday it posted a negative net return of 0.8% in the first quarter.
CPP Investments ended the period with net assets of $575 billion compared to $570 billion at the end of the previous quarter.
President and CEO John Graham said in a statement that gains in most asset classes were offset by the impact of exchange rate losses from the Canadian dollar’s appreciation against the US dollar.
Investments in public stocks and renewable energy, as well as profits from outside portfolio managers helped the quarterly results, it said.
Investments in real assets and credit instruments remained relatively stable in local currency. Fixed-income securities also lost value due to interest rate hikes initiated by central banks.
For the ten year period including the first quarter of fiscal 2024, CPP Investments contributed $314 billion to the fund’s aggregate net income.
The fund achieved a net annual return of 9.8% over 10 years.
Incurable food practitioner. Tv lover. Award-winning social media maven. Internet guru. Travel aficionado.
;Composite=(type=URL,url=https://images.radio-canada.ca/v1/assets/elements/16x9/outdated-content-2013.png),gravity=SouthEast,placement=Over,location=(0,0),scale=1)
