PSP Investments increases assets to $116.8 bln in fiscal 2016

The Public Sector Pension Investment Board (PSP Investments) reported net assets of $116.8 billion at the end of fiscal 2016, up from the previous $112 billion. The portfolio generated a 1 percent return in this period, exceeding the benchmark return, while the five-year annualized return was 8.9 percent, also exceeding the benchmark. André Bourbonnais, appointed president and CEO of PSP in early 2015, said strong performance in most of the pension fund's private-market asset classes in fiscal 2016 was offset by negative returns generated by public markets. He said PSP is pursuing strategic changes "with a view to enhance the construction of our portfolio."

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