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Capital Markets and Factor Investing

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Capital Markets and Factor Investing

The primary goal of Capital Markets and Factor Investing (CMF) is to ensure the Fund has the flexibility to efficiently gain access to multiple different sources of return. CMF invests and co-invests globally across asset classes. CMF is also responsible for executing the Fund’s financing, collateral, and trading needs.

CMF invests assets globally in public equities, fixed income securities, currency, commodities and derivatives. CMF is active with internal strategies and also engages investment managers and makes co-investments in public market securities. These exposures complement and extend the sources of returns that the Fund can achieve through other investment programs, based primarily on security selection.

CMF’s activities cover three broad categories to:

  • Use our comparative advantages to generate alpha in various systematic (or “rules based”) and discretionary investment programs. This includes external investment management partners.
  • Generate sustainable and scalable investment income from risk premia programs, which earn returns from a diversified portfolio of systematic risk factors.
  • Execute the Fund’s financing, collateral and trading needs.

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).

Active Macro

Active Macro (AM) manages 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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