Finance Minister Bill Morneau Photo from THE CANADIAN PRESS

CPP Fund posts 11.6% return thanks partly to last year’s stock markets surge

TORONTO — Canada Pension Plan Investment Board says the main fund it manages for the national retirement system increased its assets by $39.4 billion over the financial year ended March 31, achieving a net annual return of 11.6 per cent.

CPPIB’s chief executive officer Mark Machin says the main driver of growth over the first nine months of fiscal 2018 came from soaring public equity markets.

The CPP Fund received $36.7 billion in net income from investments, after all CPPIB costs, and $2.7 billion in net contributions from employers and employees covered by the Canada Pension Plan.

At the end of March, the CPP Fund had net assets of $356.1 billion, up from $316.7 billion at the end of fiscal 2017.

The investment portfolio’s 10-year real rate of return, which is used as a benchmark against assumptions made by Canada’s chief actuary, was 6.2 per cent while the five-year rate of return was 10.4 per cent.

The chief actuary estimates the CPP Fund can meet its obligations with an average return of 3.9 per cent over 75 years.

The Canadian Press

Just Posted

CP Rail talks set to resume in Calgary after unions reject railway offer

Canadian Pacific Railway Ltd. is resuming contract talks with its train operators… Continue reading

No indication Mississauga restaurant blast was terrorism, hate crime: police

MISSISSAUGA, Ont. — Police say there is no indication an explosion that… Continue reading

For CEOs, $11.7 million a year is just middle of the pack

NEW YORK — Chief executives at the biggest public companies got an… Continue reading

WATCH: Red Deer walks to reduce stigma associated with schizophrenia

First annual Strides for Hope walk takes place across Alberta

Waterline work closes 48th Avenue in Red Deer this weekend

Drivers can expect a major closure in downtown Red Deer this weekend.… Continue reading

Stettler police looking for alleged shoplifter who stole shoes

Stettler Mounties are looking for a woman they say stole a pair… Continue reading

Teamsters union members vote 98.1 per cent to reject CP Rail final offer

The Teamsters Canada Rail Conference says its members at Canadian Pacific Railway… Continue reading

Wildfire northwest of Kamloops jumps to 1,600 hectares overnight

Ground crews and aircraft are responding to an estimated 1,600 hectare wildfire approximately 55 kilometers northwest of Kamloops, near the Deadman Vidette Road.

Referendum in Ireland would repeal strict ban on abortion

DUBLIN — Ireland’s referendum Friday represented more than a vote on whether… Continue reading

Tesla in Autopilot mode sped up before crashing

SALT LAKE CITY — A Tesla that crashed while in Autopilot mode… Continue reading

Harvey Weinstein turns himself in to face sex crime charges

NEW YORK — Harvey Weinstein turned himself in to police Friday morning… Continue reading

NFL players, coaches grapple with new anthem policy

RENTON, Wash. — Seahawks coach Pete Carroll wanted to be talking about… Continue reading

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month