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Capital Markets and Factor Investing

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Capital Markets and Factor Investing

Capital Markets and Factor Investing (CMF) invests and co-invests globally across asset classes. CMF is also responsible for managing the Fund’s financing, collateral and trading needs.

CMF invests assets globally in public equities, fixed income securities, currencies, commodities and derivatives, and manages the engagement of investment managers and co-investments in public market securities. CMF is also responsible for managing the Fund’s collateral, financing and trading needs.

CMF’s activities can be categorized into three major areas:

  • Managing the Fund’s overall public market exposures in close cooperation with the Total Fund Management team under the supervision of the Investment Planning Committee. This includes managing total Fund liquidity and CPP Investments’ secured and unsecured debt programs.
  • Harvesting a diversified portfolio of risk premia to earn sustainable and scalable investment income.
  • Using CPP Investments’ comparative advantages to generate alpha in a variety of systematic and discretionary investment programs. This encompasses our Strategic Positioning program, which deviates from the Fund’s strategic asset allocation targets when we believe there is a disparity between current market pricing and long-term fundamental values.

Teams within CMF

External Portfolio Management

External Portfolio Management (EPM) creates value by engaging external managers whose strategies and expertise complement the overall CPP Investments portfolio.

Financing, Collateral & Trading

Financing, Collateral & Trading (FCT) is responsible for financing activities, including collateral optimization and sourcing of liquidity for the Fund. FCT is also responsible for centralized trading of public markets across all asset classes (except Credit assets).

Macro Strategies

Macro Strategies (MS) manages the discretionary investment programs for the Capital Markets & Factor Investing department.

Quantitative Strategies & Risk Premia

The Quantitative Strategies and Risk Premia (QSRP) group manages quantitative alpha and risk premia exposures.

Research & Innovation Group

The Research and Innovation Group (RIG) focuses on the research and development of systematic and quantitative factors and strategies, across sources of investment returns, ranging from risk premia to alpha at multiple horizons.

Our Capital Market Holdings

We are invested globally across public equities, fixed income securities, currencies, commodities and derivatives.

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