John Graham, president and CEO of CPP Investments, stated that despite heightened market volatility, the portfolio delivered stable returns across asset classes and geographies, reflecting its long-term design.
Base and Additional CPP Accounts
The base CPP account ended the quarter with $626.1bn in net assets, growing from $603.6bn in the previous quarter. This $22.5bn increase consisted of $21.4bn in net income and $1.1bn in net CPP transfers.
The account’s net return for the quarter was 3.5 percent, with a five-year annualized return of 8.0 percent.
The additional CPP account reported net assets of $49.0bn, up from $43.2bn last quarter. This $5.8bn growth included $1.7bn in net income and $4.1bn in CPP transfers. The additional CPP’s net return for the quarter was 3.7 percent, with a five-year annualized return of 5.1 percent.
Due to its distinct legislative funding profile and contribution rates, the additional CPP account is expected to grow at a faster rate than the base CPP account.
