Focus on the Maple 8
Canada’s largest pension funds collectively control $2.7 trillion. More and more, that money is being invested outside of Canada. We’re studying their publicly reported finances to understand how they’re allocating capital, and how that money could be put to work for the Canadian economy.
Worth It: How Canada's Pensions Can Invest in Real Canadian Growth
Is Canada worth investing in? It’s not just that the Maple 8 have been shifting their investments more and more outside of Canada. It’s also that their capital allocation in Canada is skewed towards safe assets like bonds and real estate — investments that are less likely to drive economic growth. The Canadian Shield Institute is calling for a mandate to invest 3 per cent of assets in high-growth Canadian companies.
Report Card
Each pension fund in the Maple 8 has its own story, and a distinct portfolio. We’re doing a deep-dive analysis on each fund, to assess how much they’re disclosing about their investments, and whether their capital is contributing to Canadian growth. Starting in late September, we will be publishing weekly report cards on each of the Maple 8 funds. Don’t see your favourite pension fund here yet? Check back again soon.
La Caisse de dépôt et placement du Québec
La Caisse de dépôt et placement du Québec, commonly known simply as La Caisse or CDPQ is distinctive among the Maple 8 pension funds, with a dual mandate to “generate optimal returns for depositors while contributing to Québec’s economic development.” As with other Canadian pension funds, the share of CDPQ’s assets held in Canada has been declining over the past decade, but the fund’s leaders consistently talk about the importance of maintaining targeted investment in Quebec.
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