(Toronto) CPP Investments reported an increase in net assets of $14.4 billion in its most recent quarter.
For the first quarter of its 2025 fiscal year ending June 30, CPP Investments increased its net assets from $632.3 billion to $646.8 billion.
The investment company attributes the increase to net income of $6.3 billion and net transfers from the Canada Pension Plan (CPP) of $8.1 billion.
“Our diversified portfolio performed as expected with gains across most asset classes,” said John Graham, president and CEO, in a statement. He said the team continues “to manage the fund prudently to deliver value to CPP contributors and beneficiaries over the very long term.”
CPP Investments said the quarter’s results were driven by investments in public equities and private markets asset classes. The firm said gains in these areas were offset by losses in government bond investments “which were negatively impacted by lower global market expectations for central bank rate cuts in response to persistent inflation.”
CPP Investments, officially known as the Canada Pension Plan Investment Board, manages the Canada Pension Plan Fund.