Canada Pension Plan Posts Negative Return Of 4.2%

The Canada Pension Plan Investment Board (CPPIB) has posted a negative return of 4.2% for
its fiscal first quarter due to volatility in global equity markets.

Canada’s largest pension fund finished the quarter with net assets of $523 billion, CPPIB said in
a written statement.

Equities have been pushed into a bear market this year as high inflation and interest rate hikes
to lower it have raised fears of an economic recession.

The rate hikes have also hurt bond prices, another major asset held by the CPPIB. Private
equity, credit and real estate investments also contributed to the quarterly decline at the fund.

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The Canada Pension Plan’s average annual return for the last five years fell to 8.7% from 10%,
while its 10-year average return declined to 10.3% from 10.9% in the most recent quarter.