The pension fund manager earned 5.4 per cent in second fiscal quarter, net assets total $777.5 billion
The Canada Pension Plan Investment Board (CPP Investments or CPPIB) has reported a robust $45.8 billion increase in net assets for the second quarter of fiscal 2026, bringing total assets under management to $777.5 billion as of September 30, 2025.
The quarterly gain was driven by $39.8 billion in net income and $6 billion in net transfers from the CPP.
The Fund, which comprises both the base and additional CPP accounts, delivered a 5.4 per cent net return for the quarter and has generated a 10-year annualized return of 8.8 per cent. Strong public equities were the primary performance driver, buoyed by market optimism around artificial intelligence, resilient earnings, and expectations of monetary easing in developed economies.
CPP Investments also credited strong results from credit, private equity, infrastructure, and energy investments, with foreign exchange gains from a stronger US dollar further boosting performance.
"CPP Investments delivered good results this quarter. The Fund continues to benefit from our diversified approach and from owning high-quality assets around the world," said John Graham, President & CEO in a release. "We remain disciplined in line with our purpose to help pay pensions not only today, but for many decades to come."
Year-to-date, the Fund has grown by $63.1 billion, including $47.3 billion in net income and $15.8 billion in net transfers. The six-month return was 6.5 per cent.
The base CPP account ended the quarter with $706.0 billion in assets, up $38.0 billion from the prior quarter, reflecting a 5.5 per cent return. It reported a 10-year annualized return of 8.9 per cent. Meanwhile, the additional CPP account grew to $71.5 billion, with a quarterly return of 4.2 per cent and a 6.3 per cent annualized return since its 2019 inception.
The fund’s long-term sustainability continues to be affirmed by the Office of the Chief Actuary of Canada, which projects average real returns of 3.69 per cent for the base CPP and 3.27 per cent for the additional CPP over the next 75 years.
“CPP Investments continues to build a portfolio designed to achieve a maximum rate of return without undue risk of loss, while considering the factors that may affect the funding of the CPP and its ability to meet its financial obligations on any given day,” said the fund in a statement. “The CPP is designed to serve today's contributors and beneficiaries while looking ahead to future decades and across multiple generations."
The CPPIB was also recently recognized for transparency, ranking first among Canadian peers and second globally in the 2025 Global Pension Transparency Benchmark.
