For older news, please click here.
CANADIAN COMMERCIAL WORKERS INDUSTRY
PENSION PLAN
Investment Performance
(August 25th, 2008) TORONTO
The Canadian
Commercial Workers Industry Pension Plan ("CCWIPP") had another
strong year in 2007, achieving an aggregate rate of return of 7.0%
which significantly outperformed the average Canadian pension fund's
return of 2.9%. The CCWIPP’s investment portfolio generated
investment income of $112 million, increasing its net assets to
approximately $1.7 billion.
The CCWIPP
achieved this performance despite the soaring Canadian dollar
relative to foreign currencies, the subprime mortgage crisis in the
United States and the collapse of the Canadian market for non-bank,
asset-backed commercial paper ("ABCP"). The CCWIPP had no exposure
to the subprime-based assets or the non-bank ABCP. These results are
attributable to the asset allocation mix initiative, established by
the Board of Trustees, and the expertise of the investment
professionals.
Read the full report here in PDF
format.
|