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 â€” 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.
Read more Business News
- Boonstock beginsPenticton / S. Okanagan - 2:11 pm
- Pro-Palestinians protestWest Kelowna - 3:07 pm
- Standing up for Israel?Poll - 5:00 pm
- YLW runway clearKelowna - 1:02 pm
|QHR Technologies Inc||1.20||-0.01|
|Anavex Life Sciences||0.255||-0.007|
|Copper Mountain Mining||2.67||-0.08|
|Sunrise Resources Ltd||0.035||+0.005|
|Mission Ready Services||0.155||+0.005|
On March 6, 2010 a bridge in Turku, Finland bent 56 inches (143 centimeters) due to structural failures of both piers. No one was injured. The bridge had to be demolished 4 months later. Our infrast...
Eighty percent of our success in learning from other people is based on how well we listen. Other people’s experience can be enormously helpful. With it we can often overcome time restraints and...
Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...