The board, which manages one of the world's largest pension funds, had earned a return of 1.1 per cent in the same period a year earlier.
CPPIB said it had net assets of
“Several factors contributed to the fund’s results this quarter beginning with the continuing advance of public equities globally, led by the Canadian market,” said
The board said its focus still remains long-term profitability, as opposed to quarterly performance.
"To meet long-term investment objectives, CPPIB is building a portfolio and investing in assets designed to generate and maximize long-term returns, " it said in a statement. "Long-term investment returns are a more appropriate measure of CPPIB’s performance than returns in any given quarter or fiscal year."
On Thursday, CPPIB announced that it is investing an additional
The GNAP partnership invests in modern logistics and warehouse facilities in major U.S. markets, and is committed to six development projects located in
Last month, the board signed a deal to acquire a 39 per cent stake in
In June, it also bought a six per cent stake in
Most Popular Stories
- Businesses, Investors Pressing for Green Policy
- E-scrap Recyclers Find Profits in Upgrades
- 'The Voice' Sounds Different This Season
- Congress Casts a Coy Vote on ISIS War
- At Groupon, Not a Good Deal of Workplace Diversity
- Lower Used-Car Prices Roil the Auto Industry
- Porn Lovers Get a New Search Engine
- Liberty Power Helps USHCC Go Green
- Utah Hosts US Hispanic Chamber of Commerce Meeting
- NSHMBA to Rebrand With New Name, Logo