The Canada Pension Plan Investment Board says its fund earned a net return of 3.4% in its latest quarter.
CPP Investments chief executive John Graham says strong performance of global equity and fixed-income markets during the final months of calendar 2023 contributed to the fund’s continued growth.
The fund ended the third quarter of its 2024 financial year with $590.8 billion in net assets, up from $576.1 billion at the end of the previous quarter.
It says strength in public equity, fixed income, credit, private equity, energy and infrastructure assets helped boost results.
The gains were offset in part by foreign exchange losses due to a stronger Canadian dollar relative to the U.S. dollar.
The results for the fund resulted in a 10-year annualized net return of 9.3%.