CPP Investments portfolio grows 5 per cent in Q2 with widespread positive returns - Toronto Star | Canada News Media
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CPP Investments portfolio grows 5 per cent in Q2 with widespread positive returns – Toronto Star

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4 years ago

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TORONTO – CPP Investments says its portfolio of retirement funds performed well during the summer months, adding $22.3 billion or five per cent in net assets since the previous quarter.

The independent investment manager for the Canada Pension Plan says it had $456.7 billion in assets as of Sept. 30, up from $434.4 billion at the end of June.

Most of the growth came from $21.6 billion in net income from investments, after all CPP Investments costs. In addition, there was $700 million in net contributions from the Canada Pension Plan..

CPP Investments attributed the fund’s growth to a continued recovery of public equity markets in July and August, which affected both its publicly traded and private equity holdings. Those gains were partly offset by a retreat of public markets in September amid concerns about further COVID-19 lockdowns.

On a longer-term basis, after adjusting for inflation, the second quarter of fiscal 2021 had an 10-year annualized net real return of 8.8 per cent and a five-year annualized net real return of 8.0 per cent.

Canada’s chief actuary has estimated the funds require an average real rate of return of 3.38 per cent over 75 years.

Chief executive Mark Machin says all of the Toronto-based fund manager’s investment departments generated positive returns during the quarter but the organization remains cautious given the uncertain economic fallout of COVID-19.

“Our investment professionals continue to pursue opportunities that will bring value to the Fund over the long term,” Machin said in a statement.

This report by The Canadian Press was first published Nov. 16, 2020.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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5 days ago

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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1 week ago

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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2 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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