Canada Pension Plan assets slip in quarter

Thu Nov 10, 2011 11:05am EST
 
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(Reuters) - Canada Pension Plan Investment Board, one of the world's top private equity players, said on Thursday the value of its assets under management slipped in its latest quarter, but were up on a year-over-year basis.

CPPIB, which invests on behalf of the Canada Pension Plan's 17 million contributors and beneficiaries, said assets under management in its second quarter, ended September 30, were C$152.3 billion ($149.3 billion), compared with C$153.2 billion at the end of the first quarter.

CPPIB said the results were hit by an investment loss of C$1.2 billion, which was partly offset by inflows of CPP contributions of C$400 million.

"We remain an active and disciplined investor in these challenging market conditions and are prepared to act when the right opportunities arise," CPPIB Chief Executive David Denison said in a statement.

Compared with the second quarter last year, CPPIB assets were up nearly 10 percent from C$138.6 billion.

The CPPIB is Canada's second-largest pension fund administrator and arguably the nation's most active, large-scale private equity player on global markets.

The fund has grown quickly in the years following the global economic crisis, as traditional private equity players were shoring up capital and CPPIB became one of the world's most aggressive acquirers.

The CPPIB's asset mix at the end of the second quarter was 49.6 percent equity (16.6 percent private), 32.8 percent fixed income and 17.6 percent inflation-sensitive assets.

($1=$1.02 Canadian)

(Reporting by Pav Jordan; editing by Rob Wilson)