The bloated CPP Investment Board is trounced by its own benchmarks – again
The Canada Pension Plan Investment Board (CPPIB) has faced criticism for its performance, as it failed to meet its own benchmarks. Despite reporting a 7.8% return this fiscal year, the fund significantly underperformed compared to a benchmark portfolio that achieved 13.9%. This raises questions about the effectiveness of the CPPIB's active management strategy.
- ▪The CPPIB reported a 7.8% return for the fiscal year, which is lower than its benchmark portfolio's 13.9% return.
- ▪The annual report has become increasingly lengthy and opaque, with important data omitted.
- ▪Critics argue that the CPPIB's active management strategy has not added value compared to a passive investment approach.
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Open this photo in gallery:The reception of CPP Investments' Toronto offices in September, 2023. This year’s CPPIB annual report neglected to include the full historic data, writes Andrew Coyne.Chris Young/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountThis time they didn’t just bury it: they omitted it altogether. Over the years the annual reports of the Canada Pension Plan Investment Board have become longer and longer, and more and more opaque.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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