Total Fund Management
TFM ensures our investing activities collectively produce the best possible portfolio for the Fund that maximizes long-term returns without taking undue risk. This is achieved through:
- Focuses on management of total Fund activities across all investment horizons that will have a dynamic and direct impact on the Fund’s overall performance.
- Leads ongoing implementation of the Total Portfolio Investment Framework in collaboration with the Office of the Chief Investment Officer.
- Ensures the investing activities of CPP Investments collectively produce a total portfolio that maximizes long-term returns without taking undue risk.
- Designs optimal investment portfolios that drive the three sources of investment returns (risk & exposure targeting, investment selection, and tactical positioning).
Teams within TFM
TFM comprises six groups delivering its mission:
Portfolio Design & Construction
Delivers tactical and strategic portfolio design and construction. This group is responsible for recommending the Fund’s risk appetite and allocation at all relevant horizons.
Beta, Collateral & Liquidity Management
Responsible for the management of the Fund’s balancing portfolios and balance sheet. The group dynamically manages the balancing portfolio and the balance sheet to optimize the trade-offs between exposures, leverage, and liquidity. Additionally, the group is responsible for financing activities, such as collateral optimization, sourcing of liquidity, and manages the Global Term Debt Issuance program.
Dynamic Portfolio Management
Sits at the center of the Total Portfolio Approach, optimizing the Fund across market conditions. The team rebalances and manages exposures via balancing portfolios and tactical asset allocation to maintain target risk, capture opportunities, and support long-term performance.
Trading
Centralizes execution across all public assets (excluding credit) and markets, managing execution risk on behalf of all investment departments. Additionally, the group delivers research, analytics, and data-driven insights to enhance trading activities.
Applied Research and Models
Delivers impactful research and develops quantitative models and analytical tools that support the department in its management of the Fund.
Strategy & Business Management
Drives TFM’s strategy, drives operations, and ensures alignment with the One Fund strategy and the broader organization. The team supports TFM leadership’s accountabilities and enables disciplined, effective execution.
Holdings & Relationships Reports
We regularly issue holdings and relationships reports which disclose private equity relationships, and Canadian and foreign public equity and real estate holdings.
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