CPPIB earns 11 return in first quarter

TORONTO — The Canada Pension Plan Investment Board said Friday it earned a return of 1.1% for the first quarter of its current financial year.The fund managed by the CPP Investment Board totalled $188.9-billion at June 30, up from $183.3-billion at the end of the previous quarter.The gain included $1.9-billion in net investment income and $3.7-billion in net CPP contributions made by Canadian employees and employers.The fund held $93.5-million in equity investments such as stocks, $63.4-million in fixed income such as bonds and $31.9-billion in real estate and infrastructure investments.The CPP Investment Board invests money not needed by the Canada Pension Plan to pay benefits for current retired contributors. read more