Winnipeg Free Press - PRINT EDITION
Posted: 02/16/2013 1:00 AM | Comments: 0
TORONTO -- The fund that invests on behalf of more than 18 million contributors and beneficiaries of the Canada Pension Plan has reported a gross investment return of three per cent in its fiscal 2013 third quarter, but that wasn't what pleased new CEO Mark Wiseman the most.
"Obviously we're happy with the investment results, but as we've said in the past, we don't judge our successes or our failures 90 days at a time," Wiseman said in an interview Friday.
"What I do think you see in the quarter's results is not just the financial results, but you see evidence of the capabilities that we've built as an organization -- our extensive professional investment capabilities, which are increasingly global in nature."
It's a capability not to be taken lightly, especially in light of pressure to expand the CPP in an era when private pension plans are increasingly struggling to provide Canadians with adequate income in retirement.
Wiseman, who took the helm at the CPPIB last July following the retirement of David Denison, was a co-architect with Denison on the CPPIB's current active investment strategy.
The strategy, launched in 2005, is aimed at growing the fund to help meet pension obligations even when payouts begin to outnumber annual contributions sometime in the next decade.
-- The Canadian Press
Republished from the Winnipeg Free Press print edition February 16, 2013 B9
Have you found an error, or know of something we’ve missed in one of our stories? Please use the form below and let us know.
Having problems with the form?Contact Us Directly
Panasonic, Tesla to build big US battery plant
World Cup adds froth to German beer sales
Alcatel loss narrows in 2Q but revenue stagnates
Nova Scotia to provide update on finances
Fast food ambitions in China hurt by safety scares
Adidas issues profit warning on Russia, golf risks
Siemens earnings up 27 pct in April-June quarter
AB InBev earnings rise, sees US improving
Sod turned for condos
Sanofi 2nd quarter profit surges
Facebook's Internet.org expands in Zambia
Mazergroup expands offerings
Innovative joint collaboration
Sony surprises with first quarter profit
Shell profit up on higher oil prices
Swiss central bank reports $17.7BN half-year gain
Homeowner who triumphed over Trump is moving on
Samsung profit falls as smartphone sales slow
Obama order to expand labour rights for contractors