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The Canada Pension Plan Fund ended the first quarter of the fiscal year with $165.8 billion in assets, a $4.2 billion increase since the previous quarter.
Canada's national pension plan received $3.5 billion in contributions and earned $800 million on its investments. Its portfolio returned 0.5 per cent for the quarter.
"Our performance results for the fiscal first quarter reflect the Fund’s resilience against continuing uncertainty, poorly performing equity markets and other global economic headwinds," the fund's CEO Mark Wiseman said.
Wiseman credited diversity within the fund's investments for the gains.
CPP made a $335 million US investment in multifamily properties in California, Illinois and Texas. Although the deal closed after the quarter had ended, CPP also announced a joint venture investment in waterfront office towers in Australia on July 7.
Two transactions involved the North American oil and gas sector, including a $150 million US private placement with ECA Marcellus Productions LLC, a subsidiary of the Energy Corporation of America. A $200 million equity investment was completed with Calgary-based Seven Generations Energy Ltd.
Interests in five major Chilean toll roads were acquired, in addition to further investment in Montreal-based engineering consulting firm GENIVAR.
The Chief Actuary of Canada said the CPP will remain sustainable for at least the next 75 years, and says that contributions are expected to exceed benefits paid until 2021. That means CPP won't need to dip into its investment returns for the next nine years.