TORONTO – The Canada Pension Plan Investment Board reported a 3.4 percent return in its most recent quarter.
The board, which manages portfolios on behalf of the Canada Pension Plan, had net assets of $ 234.4 billion for the period ended September 30.
This was up from $ 226.8 billion at the end of the previous quarter.
He says the majority of the increase, or $ 7.5 billion, was due to net investment income.
The remaining $ 100 million was net CPP contributions.
The CPPIB invests money that the Canada Pension Plan does not currently need to pay benefits.
The board says it builds an investment portfolio with an “unusually long investment horizon” and that this is more indicative of its performance than returns in any given quarter or year.
“We continue to enjoy the benefits of a resilient and globally diversified portfolio designed to generate superior long-term returns,” President and CEO Mark Wiseman said in a statement.
During the quarter, the Office reached an agreement to acquire a 39% stake in Interparking, one of the largest parking management companies in Europe, for approximately $ 546 million.
Based in Brussels and present in nine European countries, Interparking has 657 car parks in 350 cities.