A diversified portfolio helped the Canada Pension Plan Fund inch up slightly during its second quarter of fiscal 2018.

The Canada Pension Plan Investment Board (CPPIB) announced Nov. 10 that net assets stood at $328.2 billion, compared with $326.5 billion at the end of the previous quarter. The $1.7 billion net increase in assets for the quarter consisted of $2.3 billion in net income after all CPPIB costs, less $600 million in net Canada Pension Plan (CPP) cash outflows.

“Equities advanced internationally ‎during the quarter moderated by negative Canadian fixed income and foreign currency returns,” said Mark Machin, president and chief executive officer with the CPPIB. “The Fund delivered a modest return with contributions from all of our major investment programs as our teams pursued a number of select transactions setting the stage for added future growth. Our broadly diversified investment portfolio continues to generate strong long-term performance results for the Canada Pension Plan and its contributors and beneficiaries.”

To meet long-term investment objectives, CPPIB continues to build a portfolio designed to generate and maximize long-term returns at an appropriate risk level.