The Canada Pension Plan Investment Board (CPPIB) reported a gross investment return of 16.5% for fiscal 2014.
The CPP fund ended its fiscal year on March 31, 2014, with net assets of $219.1 billion, compared with $183.3 billion at the end of fiscal 2013. The $35.8-billion increase in assets for the year consisted of $30.1 billion in net investment income after operating costs and $5.7 billion in net CPP contributions.
“While returns in global equity markets bolstered results, all of our active management programs produced significant annual gains and strengthened our future position,” says Mark Wiseman, CPPIB president and CEO.
“Our teams had a very active year leveraging CPPIB’s comparative advantages globally. They added investments that fit our enduring portfolio, further diversify the fund and will generate long-term growth.
Although the CPPIB is pleased with these annual results, it noted that this relatively short-term performance is far less meaningful than its long-term results, as financial markets can move sharply in either direction over shorter time horizons.
In the 10-year period up to and including fiscal 2014, the CPPIB has contributed $95.1 billion in cumulative net investment income to the fund after operating costs and more than $110 billion since inception.
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