Is CPPIB now on top?

We should know this week if the CPP Investment Board has become Canada’s largest pool of pension fund assets.

Assuming the rumours about the Caisse de Depot are true, that $155 billion fund now manages ~$117 billion, thanks to a variety of choices that went awry, including ABCP and 20x leveraged global index investing. As of November 12, 2008, CPPIB had $117.4 billion under management, and this might be the week for the unveiling of their Q3 asset base and performance figures. Public market values will have hurt, but the addition of new capital should be a buffer.

Ontario Teachers had $108.5 billion under management as of December 31/07, so it’ll have been unlikely for them to have wound up in 1st place when the final tally is in. Few pension plans can claim a 10% rise in the value of their assets last year.

MRM