CPP Investment Board reports 10.1 per cent return, assets grow to $183 billion

TORONTO – The Canadian Pension Plan Investment Board earned a 10.1 per cent return in its latest fiscal year as it strove to strengthen its foothold in emerging markets.

The fund, which invests the money not needed by the Canadian Pension Plan to pay benefits, says its assets grew by $21.7 billion from a year ago to $183.3 billion.

Of that growth, $16.2 billion came from investment income after operating costs, while another $5.5 billion came from contributions.

However, the fund fell $286 million short of its benchmark reference portfolio after factoring in operating expenses.

CPPIB says it will continue to increase its foreign investments, particularly in emerging markets such as China, India and Brazil.

The fund completed 36 deals over $200 million each in the fiscal year ended March 31, including a financing deal with Formula One Group, the company behind F1 auto racing, and a joint venture to expand its real estate holdings in Brazil.