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Pension investor for federal public service, forces, RCMP earns 16.3% return

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MONTREAL - The pension fund manager for the federal public service, the Canadian Forces and the RCMP says it earned a return of 16.3 per cent for its financial year ended March 31.

The Public Sector Pension Investment Board says the "solid overall performance" was driven by strong results in the stock market as well as in its private equity, renewable resources, real estate and infrastructure portfolios.

PSP Investments said it earned net investment income of $12.6 billion for the year and received $5 billion in net contributions.

Consolidated net assets reached a record $93.7 billion, an increase of $17.6 billion or 23 per cent over the previous year.

The results beat its benchmark policy portfolio return of 13.9 per cent.

"Once again, performance was strong across the board with all investment teams contributing to value added over benchmark returns," said John Valentini, interim president and CEO and chief financial officer.

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