CPPIB to focus on ‘long horizon’
The CPP Fund ended the first quarter of its 2013 fiscal year on 30 June 2012 with net assets of $165.8bn, compared to $161.6bn at the end of the previous quarter on 31 March 2012.
"Our performance results for the fiscal first quarter reflect the Fund’s resilience against continuing uncertainty, poorly performing equity markets and other global economic headwinds," said Mark Wiseman, CPPIB president and CEO.
"Our investment portfolio, broadly diversified across asset classes and geography, contributed to the Fund’s performance despite a turbulent market environment. While all major equity indices were down during the quarter, the positive contributions from our diversified active programs delivered stability overall. While quarterly results are relevant, CPPIB’s focus on the long horizon remains steadfast."
Although infrastructure assets in the period represented 5.7% of the total portfolio, a number of key investments were made in the weeks after 30 June. The transaction to acquire significant minority interests in five major Chilean toll roads from Atlantia Group closed on 3 August.
In May, the Board said it is looking at infrastructure opportunities in the UK and Europe over the next 12 months.