Canada Pension Plan Investment Board says its fund, which incorporates the mix of the bottom CPP and extra CPP accounts, lost 4.2 per cent in its newest quarter.
CPPIB ended the quarter with internet belongings of $523 billion, in comparison with $539 billion on the finish of the earlier quarter.
The board says the $16 billion lower in internet belongings for the quarter consisted of a internet loss of $23 billion and $7 billion in internet transfers from the Canada Pension Plan.
The board says the fund’s quarterly outcomes have been pushed by losses in public fairness methods, as a result of broad decline in world fairness markets.
It additionally says investments in personal fairness, credit score and actual property contributed modestly to the losses this quarter.
CPPIB CEO John Graham says he expects “turbulence” within the enterprise and funding atmosphere to persist all through the fiscal yr.
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