CPP Investments earned 5.4 per cent net return in Q2, net assets total $777.5B

Signage is seen in the reception of CPP Investments' Toronto offices, on Thursday, Sept. 21, 2023. THE CANADIAN PRESS/Chris Young

TORONTO — Canada Pension Plan Investment Board says it earned a net return of 5.4 per cent for its second quarter.

The board says the increase helped bring its net assets to $777.5 billion on Sept. 30, up from $731.7 billion at the end of the previous quarter.

The increase in net assets for the quarter included $39.8 billion in net income and $6.0 billion in net transfers from the Canada Pension Plan.

The pension fund manager says the gains for the quarter were driven by strength in public equities, reflecting investor optimism around artificial intelligence, resilient corporate earnings and expectations of continued monetary easing in developed markets.

It says its investments in private assets — particularly in credit, private equity, infrastructure and energy — also performed well.

CPP Investments chief executive John Graham says the fund continues to benefit from a diversified approach and from owning high-quality assets around the world.

This report by The Canadian Press was first published Nov. 14, 2025.