Canada’s Largest Pension Earns 1% After Weak US Dollar Hit Gains

Canada Pension Plan Investment Board returned 1% last quarter as the weak US dollar largely offset gains in stocks and energy assets.

Net assets rose to C$731.7 billion ($530.3 billion) from C$714.4 billion in the fiscal quarter ended June 30, according to a statement Thursday.

“Shifting trade dynamics and broader geopolitical uncertainty fueled renewed volatility in global markets during the first quarter of our fiscal year,” Chief Executive Officer John Graham said in the statement.

The rebound in stock markets during the period, returns from the pension plan’s energy asset holdings and strong results from its external manager program boosted ...