C$201.4 billion fund boosts its fixed income holdings to counter global slowdown.
Returns are up more than 11% so far in 2019.
Falling bond yields prove too much for robust asset gains.
Fund details how it works climate risk into investing its nearly $150 billion in assets.
Analysis shows a passive strategy could have cost CPPIB nearly C$50 billion since 2006-2007.
US, Canadian equities were top-performing asset classes.
Despite strong gains, funds underperformed the benchmark portfolio.
Pension fund reduced the carbon intensity of its portfolio by 10% in 2018.
Fund’s performance last year was driven by active management decisions.