The Canada Pension Plan Investment Board is reporting a 3.8 per cent return and net assets of $699.6 billion as at Dec. 31, 2024, compared to $675.1 billion at the end of the previous quarter.
The $24.5 billion net asset increase is credited to positive returns in private equity and credit. However, the quarterly gains were offset by reported losses in fixed income assets due to increasing yields in U.S. Treasuries.
Read: CPPIB returns 3.6% in fiscal Q2 2025, net assets increase to $675.1BN
The CPPIB said it anticipates volatility in general to affect overall results at various horizons and that fluctuations caused by the depreciation of the Canadian dollar were prominent during the third quarter. The fund delivered a 10-year annualized net return of 9.2 per cent.
In a press release, John Graham, president and chief executive officer at the CPPIB, said returns for the fund were strong and the investment team signed or closed more than 40 transactions in the last three months of 2024.
“Even with considerable uncertainty on a global scale as 2025 begins, with the combination of a strong, experienced team and a resilient portfolio, we continue to seek out the best opportunities to deliver steady, long-term investment returns for the fund.”