The Canada Pension Plan(CPP)fund has topped $100 billion for the first time ever, growing $4.7 billion to $103.3 billion during the quarter ending September 30, 2006.
“In surpassing $100 billion in assets, we mark a milestone in the growth and evolution of the CPP fund,” says David Denison, president and CEO of the CPP Investment Board. “Within the next decade, the chief actuary of Canada estimates that the CPP fund will grow to $250 billion, making it one of the largest single purpose pools of investment capital in the world.”
For the quarter, the fund experienced an investment rate of return of 3.9%, or an increase of $3.9 billion while the fund added $800 million from CPP contributions not needed to pay current pensions.
At the end of September, the CPP fund consisted of 63.7% in equities($65.9 billion), of which public equities made up 58.3%($60.3 billion)and private equities 5.4%($5.6 billion); 24.9% in bonds($25.6 billion); 9.7% in inflation-sensitive assets($10 billion); and 1.7% in cash and cash equivalents($1.8 billion). To comment on this story email craig.sebastiano@rci.rogers.com.