The head of the Canada Pension Plan Investment Board sounded optimistic Friday about opportunities that may arise out of the recent return of volatility to markets.
“I think there was a lot of euphoria coming into the new year, so I think some of that’s blowing off here,” said Mark Machin, president and chief executive officer of the CPPIB, in an interview with the Financial Post. “Hopefully, there’s opportunity thrown up by some of this volatility. Certainly, our public market teams are looking at better entry positions into stocks that wouldn’t otherwise be there because there’s volatility.”
The CPPIB reported Friday net assets of $337.1 billion for its fiscal third quarter ended Dec. 31 2017, up from $328.2 billion for the previous quarter. Canada’s largest pension fund said its net return was 4 per cent for the quarter, 12.1 per cent on a five-year annualized basis, and 7.4 per cent on a 10-year basis.