Chapter
signals that $ 730 billion
The fund seeks to invest in
And
The prime minister is promised
Government – if projects offer a scale, stability, predictability and transparency.
In a speech in Toronto on Monday, General Director John Graham outlined a number of investments in general terms, which the fund already has at home, and said that if Ottawa and the provinces receive a formula for national projects to reduce dependence on the United States-Canadian pensions will not be the only ones who are going to invest.
“When Canada offers the right opportunities, we enter. “I am inspired by what has been happening in Canada recently: politicians of all political lanes, federal and provinces, working together so that together with
unlock the potential of this country
.
But while he said that over the past six months, calls from international institutional investors who are interested in investment in potential new opportunities in Canada, he also sounded caution.
“Many world investors seek to lead to capital to work in Canada. But now, what I learned from working with the main investors in the world: capital is liquid and boring. This will always come to the possibilities of the least resistance. ”
He said that he is optimistic in the prospects of Canada, because the CPP’s own story shows that political opponents can put long -term national interests ahead of politically whole.
The Investment Council for the Pension Planes of Canada was created in 1997, when, faced with the crisis of demographic financing, federal and provincial politicians agreed to transform the pension model of payment as you, in the united capital system, which will invest in the organization of professional management.
“I am sure that they can do this because they did it earlier in 1997 with the original pension reforms,” he said.
“Canada decided the crisis on the accessibility of the pension … She shows what we can achieve when we work together, and first put a long term.”
About 12 percent of the CPP fund are invested in Canada.
When the previous liberal government insisted on Canadian pensions to invest more at home, CPP pension officials threw back, claiming that the CPP fund was an “overweight” in Canada, given the country's contribution to the global GDP. It was also widespread that the projects proposed by the governments of Canadians did not offer the size, scale, independence and profile of the risk that turn to the institutional institutional investors of Canada.
In his speech, Graham pointed to several investments of the fund, which Canadians face in their daily life, from fast food to energy and technology.
“If you go on the 407 highway, there are A& W, make purchases at Dollarama or use the Shopify platform, you touch the companies that we invested in,” he said. “We (also) supported the largest energy manufacturer of this country,
More than ten years. And we finance the infrastructure of the future – as a new Cambridge data processing center. ”
He made it clear that he was ready to do more while Canada copes with the model correctly.
“If Canada can demonstrate unity and coordination, the capital will flow and support the enterprise of our nation – not from rhetoric or emotional attractiveness (but) because capital will find its way for markets that work,” he said.
“This unity and coordination initiate national projects for the construction of national construction of Canada. And these are precisely those projects, both foreign and internal investors, including the United States, are ready to support. ”
Graham also said that the funds management organization cooled US state actions, which, in their opinion, are too concentrated in several technological companies, with the potential to identify the pension fund “unacceptable” risk.
“Right now we are not pursuing American shares,” he said.
This does not mean that the fund is returning from the United States as a whole, despite the lower predictability and greater protectionist policy of the current administration.
“In the end, the United States is the largest, deepest market in the world, the deepest capital market,” he said after his speech. “And if you want to retreat from the United States, you should ask where you are going to go? … We must actively manage the US portfolio so that it does not become too big because it went so well.”
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