The Canada Pension Plan Investment Board ended the first quarter of its fiscal year 2026 with a net return of 1.0%.
As of June 30, 2025, the pension fund’s net assets totaled $526.1B (C$731.7B), up from $513.7B (C$714.4B) at the end of the previous quarter. The $12.4B (C$17.3B) increase in net assets for the quarter was comprised of $5.4B (C$7.5B) in net income and $7.1B (C$9.8B) in net transfers from the Canada Pension Plan (CPP), noted a press release. Over a 10-year annualized period, the fund generated a net return of 8.4%.
While the Fund benefited from gains in public equities and energy assets, as well as strong results from the fund’s external manager programs, they were largely offset by the weakening of the U.S. dollar relative to the Canadian dollar amid tariff-related uncertainty.
“Shifting trade dynamics and broader geopolitical uncertainty fueled renewed volatility in global markets during the first quarter of our fiscal year,” said John Graham, the CPPIB’s president and chief investment officer. “Through these events, the fund remained resilient, supported by our diversified investment strategy, including broad geographic exposure that helps offset shifts in the employment, wage and demographic trends that determine CPP contributions. We remain focused on creating long-term value for the benefit of CPP contributors and beneficiaries.”
