CPP Investment Board Reports Fiscal Second Quarter Performance Results
CPP Fund Up $4.3 Billion With Net Assets Exceeding $170 Billion
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/09/12 -- The CPP Fund ended the second quarter of its 2013 fiscal year on September 30, 2012 with net assets of $170.1 billion, compared to $165.8 billion at the end of the previous quarter on June 30, 2012. The $4.3 billion increase in net assets after operating expenses resulted from $3.1 billion in investment income and $1.3 billion in net CPP contributions. The portfolio returned 1.9% this quarter.
For the six month fiscal year-to-date period, the CPP Fund increased by $8.5 billion from $161.6 billion at March 31, 2012. This increase in net assets after operating expenses resulted from $4.0 billion in investment income and $4.7 billion in net CPP contributions. The portfolio returned 2.4% for this period.
"The positive returns this quarter reflected gains across most global equity markets as well as income generated by our active investment strategies," said Mark Wiseman, President and CEO, CPP Investment Board (CPPIB). "The strong pace of investment activities during the past six months continues to demonstrate our ability to leverage our exceptionally long investment horizon and internal capabilities to complete sizeable and complex investments while maintaining a disciplined, patient approach."
Investment highlights during the second quarter include:
CPPIB also announced several significant investments following quarter end:
Long-term sustainability
In the latest triennial review released in November 2010, the Chief Actuary of Canada reaffirmed that the CPP remains sustainable at the current contribution rate of 9.9% throughout the 75-year period of his report. The Chief Actuary's projections are based on the assumption that the Fund will attain an annualized 4.0% real rate of return. The 10-year annualized nominal rate of return of the Fund is 6.7%.
The Chief Actuary's report also indicates that CPP contributions are expected to exceed annual benefits paid until 2021, providing a 9-year period before a portion of the investment income from the CPPIB will be needed to help pay pensions.
Asset Mix
Note: All figures in Canadian dollars unless otherwise noted.
About CPP Investment Board
The CPP Investment Board is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, the CPP Investment Board invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2012, the CPP Fund totaled $170.1 billion. For more information about the CPP Investment Board, please visit .
Contacts:
CPP Investment Board
Linda Sims
Director, Media Relations
(416) 868-8695
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Datum: 09.11.2012 - 14:01 Uhr
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News-ID 201661
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