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CPP Investment Board earns 16.5 per cent return for latest financial year

TORONTO - The Canada Pension Plan Investment Board says its investments earned 16.5 per cent in its latest financial year.

The pension fund manager says the gain came as its asset base grew by $35.8 billion for the year ended March 31, with the vast majority of that coming from investment income.

At the end of its financial year, CPPIB had $219.1 billion of assets under management — up from $183.3 billion a year earlier.

About $30 billion of the increase was due to investments and $5.7 billion came from excess contributions paid to the pension plan by working Canadians and their employers outside of the province of Quebec.

CPPIB chief executive Mark Wiseman says it was an unusually strong year and cautions that it likely won't be repeated again soon.

But Wiseman says the CPPIB's goals are very long-term and it's well positioned to deliver its commitments to the pension plan.

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