POLITICS

CPP Investment Board earns 1.1 per cent return in its first quarter

08/09/2013 09:16 EDT | Updated 10/09/2013 05:12 EDT
TORONTO - The Canada Pension Plan Investment Board said Friday it earned a return of 1.1 per cent 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 billion in equity investments such as stocks, $63.4 billion 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.