2019 marks a major milestone for CPP Investments – we commemorate our 20th anniversary as the investment manager of the CPP Fund. Back in 1999, the first funds received from CPP totalled $12.1 million, and today the Fund is valued at more than $368B.
It fills me with enormous pride and gratitude to reflect on the achievements and wise decisions made by so many of you over the past two decades.
Moving from passive to active management, going global with our first international offices, and hitting the $100 billion, then $200 billion and then $300 billion mark. Incredible progress in a relative short time.
Earlier this year, we saw our mandate further expanded with the additional CPP contributions that we’ve now started managing, and which will positively impact millions of future beneficiaries.
We continue to address the low levels of public awareness about the CPP Fund, and in particular CPP Investments’ role in managing the Fund, with a public information initiative targeting Canadians. We’re explaining that the CPP is secure for future generations, and our important role in helping to ensure its long-term sustainability.
In another development, we are the first pension fund manager to issue a Euro denominated Green bond, which will facilitate our investments in renewables such as wind and solar, as well as green buildings. This issuance follows CPP Investments’ inaugural Green Bond in June 2018, another first for a pension fund.
The Economist recently published an article titled Moose in the market – which I strongly encourage you to read – highlighting CPP Investments’ as “an investment force to be reckoned with”.
Together, we have much to commemorate to mark our progress over the past 20 years. I hope many of you will be able to join us on April 15th as we raise a toast to all of you who played a role, at our Alumni network event in Toronto.
Best wishes, Mark
~ Mark Machin, President and CEO