February 10, 2011 / 2:33 PM / 7 years ago

UPDATE 1-CPPIB sees assets under management rise sequentially

Feb 10 (Reuters) - Canada Pension Plan Investment Board, the manager of the country’s national pension fund, said on Thursday its assets under management (AUM) rose 1 percent sequentially in its fiscal third quarter.

CPPIB said assets at the end of the October-December quarter rose C$1.5 billion to C$140.1 billion, due mainly to an investment income of C$3.9 billion.

At the end of the second quarter, AUM were C$138.6 billion.

CPPIB, vying for the top spot as the nation’s largest pension fund manager, has seen the value of its assets balloon in recent years as global equity markets rebounded from the financial crisis.

The fund manager, which has investment horizons stretching out up to 40 years, has been a major global buyer of large-scale assets in recent years.

It took advantage of deep pockets to scoop up assets during the global economic crisis — ranging from toll highways to office skyscrapers to a prescription drug sales data provider. (Reporting by Pav Jordan in Toronto and Bhaswati Mukhopadhyay in Bangalore; Editing by Gopakumar Warrier)

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