CPP fund hits record high $140 billion
The CPP Fund ended the third quarter of fiscal 2011 with record holdings of $140.1 billion, according to The Canada Pension Plan Investment Board (CPIB). That’s up from the previous record of $138.6 billion at the end of the second quarter. The Board ascribes the increase to an improvement in investment income as equity markets continue to rise.
Nevertheless, the gain was somewhat offset by $2.4 billion in CPP benefits payouts. The fund reportedly pays out more in benefits in the latter part of the year.
The CPPIB is a professional investment management organization that invests surplus contributions on behalf of 17 million Canadian contributors and beneficiaries of the Canada Pension Plan.
(Source: The Canadian Press)
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