The Canadian Pension Plan Fund said Thursday its assets fell slightly to $152.3 billion during its the second fiscal quarter but remained fairly insulated from shocks that spread through the global financial system.
The fund, which is comprised of money not needed to pay immediate benefits under the CPP, said its assets decreased by $900 million from $153.2 billion at the end of the first quarter as it recorded a $1.2-billion an investment loss, or rate of return of minus 0.8%, offset partially by inflows of CPP contributions.
For the fiscal year-to-date, the fund increased by $4.1 billion.
“Despite major equity market indices declining approximately 11% on average, the fund’s overall quarterly performance benefited from our active management programs and private market holdings,” president and CEO David Denison said in a statement.
“We remain an active and disciplined investor in these challenging market conditions and are prepared to act when the right opportunities arise.”
Over the trailing five years, the fund has generated an annualized investment rate of return of 3.1% or $19.6 billion of investment income. For the 10-year period ended Sept. 30, it had generated $51.7 billion in investment income for an annualized rate of return of 5.9%.