CPP Investments posts strongest quarter in over a decade
Real assets, particularly energy, contributed meaningfully, the manager said, alongside steadier gains in credit and external manager programs.
Fixed income delivered more modest results amid elevated bond yields and shifting rate expectations, while a stronger US dollar lifted overall returns.
The two accounts that make up the fund diverged, as designed.
The base CPP account ended the quarter with $773.4bn in net assets, up from $712.9bn, returning 7.7 percent for the quarter and 9.5 percent over 10 years.
The additional CPP account, launched in 2019, held $90.2bn, up from $80.4bn, with a quarterly return of 5.7 percent and a 6.5 percent annualized return since inception.
