TORONTO -- The value of the Canada Pension Plan fund rose to $152.8 billion during its fiscal third quarter on improved equity and bond market returns.
That compares to $152.3 billion at the end of the second quarter and $140.1 billion at the end of the third quarter of fiscal 2011, when the fund's investments were still recovering from recession.
The CPP Investment Board _ which manages the fund that will be used to pay out future pension payments _ says it saw $3.2 billion in investment income during the quarter, on a 2.1 per cent rate of return.
Outflows from the funds were $2.6 billion during the quarter.
The CPP fund usually receives more contributions than are required to pay benefits during the first part of the calendar year and then uses a portion of those funds to pay benefits near the end 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.
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