CANADA - The Canadian Post Registered Pension Plan outperformed its benchmark by 1.8% to produce a return of C$236m, taking the fund value to C$14.6bn (US$14.4bn) in 2007.
Douglas Greaves, vice president and CIO, Canada Post Pension Fund, commented: "Financial markets continue to exhibit unusual volatility, as we work our way through the credit issues facing us.
"We are pleased that despite this uncertainty the plan continues to perform above its benchmark."
The plan earned an increase of 2.1% in asset value, making its annualised return 7.3% and beating its benchmark of 4.3%.
In the third quarter, the fund saw outflows of C$44.6m as the company began recovery of prior years' special contributions.
During this quarter the plan also reduced its Canadian equity allocation by C$50m and short term investments by C$92.1m. It invested this amount, plus C$79.4m in currency gain, into real estate, nominal and real return bonds, US and international equities.
As of 30 September 2007, 64.9% of the plans assets were invested in equities and 2.3% in real estate.
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