CPP Fund Totals $127.6 Billion at 2010 Fiscal Year-End
Toronto (20 May 2010) – The CPP Fund ended its fiscal year on March 31, 2010 with net assets of $127.6 billion, an increase of $22.1 billion from the prior year end. The increase in assets essentially put the Fund back to its previous highest level reported on June 30, 2008, prior to the onset of the financial crisis.
The Fund rose due to increases of $16.2 billion in investment income and $6.1 billion in CPP contributions, minus operating expenses. The portfolio returned 14.9 per cent for fiscal 2010 compared with a prior year decline of 18.6 per cent.
“The CPP Fund delivered one of its highest-ever annual returns, driven largely by strong public equity markets,” said David Denison, President and CEO, CPP Investment Board.
“We have the benefit of being able to look beyond short-term market cycles, and to deal with volatility better than the majority of market participants,” Mr. Denison said. “Unlike many other investors, we did not suffer from capital or liquidity constraints last year. In fact, our experienced investment teams completed a number of significant transactions during the year.”
The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE