The Canadian Pension Plan Investment Board (CPP Investments) has announced its third quarter fiscal results for the third quarter of fiscal 2021, which ended on Dec. 31, 2020. Net assets reached $475.7-billion up from $456.7-billion at the end of the previous quarter.
A combination of the base Canada Pension Plan (CPP) account and the additional CPP account, the fund achieved 10-year and five-year annualized net nominal returns of 10.8 per cent and 9.7 per cent, respectively. For the quarter, the fund returned 5.1 per cent net of all costs.
The base CPP account, with net assets of $471-billion, achieved a 5.1 per cent net return for the quarter while the additional CPP account, with net assets of $4.7-billion, achieved a net return of 3.1 per cent for the quarter. The investment board says the base and additional CPP accounts differ in contributions, investment incomes and risk targets, adding that it expects the investment performance of each account to be different.
For the nine months ended on December 31, 2020, the fund returned 16.4 per cent net of all CPP Investments costs. CPP Investments says soaring equity markets were the leading contributor to the fund’s performance during the period.
