An NAIC report also found corporate pensions and union funds ‘lag significantly’ behind public pensions in hiring diverse managers.
The quiet month was preceded by a two-month, $7.6 billion investing spree.
The Unified Pension Scheme will be a combination of a defined benefit and defined contribution pension plan.
The Canadian pension fund’s asset value increased nearly C$12 billion for the year to June 30.
Public and private assets helped the pension fund swing from a loss one year earlier to raise its asset value to $471.5 billion.
Approximately half of the new investments will be in public equity, with the rest going into private markets.
The $267.7 billion pension giant cashed out of $3.8 billion worth of equity investments in March and April alone.
The asset class gained 19.5% for the UPP investment portfolio after losing 14.1% a year earlier.
The repayment is the second related to overpayment of excess funds received from the PBGC in connection with the Special Financial Assistance Program.
Analysis finds that each dollar the $12.1 billion pension fund paid out in pension benefits generated $1.40 in economic activity in the state.