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Canadian pension solid

The Canada Pension Plan Investment Board says it earned a return of 1.1 per cent, net of its costs in its most recent quarter.

Chief executive Mark Machin says the investments achieved solid net income in local-dollar terms, but the Canadian dollar strengthened in June and dampened the returns.

The result for the quarter ended June 30 came as its net assets grew to $400.6 billion, up from $392.0 billion at the end of the previous quarter.

The increase included $4.1 billion in net income after expenses and $4.5 billion in net Canada Pension Plan contributions.

The fund, which includes the base CPP and additional CPP accounts, earned 10-year and five-year annualized net nominal returns of 10.5 per cent each.

The Canada Pension Plan Investment Board invests the money not needed by the Canada Pension Plan to pay current benefits.



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