The CPP Investment Board will launch a new web site on May 1 as the cornerstone of its policy of full and timely disclosure. The site will include quarterly information on assets under management, and identity retained to implement the board’s investment strategies.
The disclosure policy recently approved by the board of directors states that “Canadians have the right to know why, how and where we invest their Canada Pension Plan money, who makes the investment decisions, what assets are owned on their behalf and how the investments are performing”.
In addition to providing extensive background on the origins of the Canada Pension Plan and the CPP Investment Board, the new Web site will disclose:
- All public equities owned and their market value, updated quarterly
- A summary of private equity holdings, updated quarterly
- An estimate of the market value of government bonds and short-term securities held by the Canada Pension Plan, updated quarterly
- Tabulated historical investment results, kept current every three months
- A detailed discussion of current and pending investment strategies
- Details on investment firms and other suppliers retained to implement investment and operating strategies
- The process and criteria for business opportunities by outside firms
- Board-approved policies, including those dealing with governance, investment, codes of conduct, conflicts of interest, personal trading for directors, officers and employees, and procurement
- Biographies on all directors and managers
“The directors are strong advocates of proactive disclosure of investment information” commented Gail Cook-Bennett, Chairperson of the CPP Investment Board. “The CPP Investment Board wants to help Canadians to understand and assess how our efforts are contributing to the long-term financial strength of the Canada Pension Plan.”