Table: Canada’s Top Pension Funds Invest in
Corporations Profiting from
See the Coalition to Oppose the Arms Trade website
See other resources in issue #67 of COAT's publication, Press for Conversion! (Fall 2012)
Profiting from Israeli Apartheid:
References and Notes:
1. Data on all CPP holdings (except CAE and Carlyle Group) is from
the CPP Investment Board (CPPIB) "Foreign Publicly-Trade Foreign Holdings,"
March 31, 2011, and March 31, 2012.
2. With its 2012 annual report, the CPPIB stopped disclosing data on the CPP’s direct investments. All CPP figures now combine direct and indirect investments. As the CPPIB notes: "This year and going forward, in addition to physical equity positions, the public equity disclosure lists include exposures obtained through index securities, swaps and other derivative instruments. The net long positions are reported to provide a more complete view of our economic equity exposure to individual company names." Although the CPPIB claims this new method is "more complete," it leaves out all data on the CPP’s direct investments. This impacts Canadians wishing to tell the CPPIB to follow its own lax policies on "responsible investing." As Brigid Barnett, the CPPIB’s "Responsible Investing Manager," remarked in an email to this author: "It was never intended that our Policy on Responsible Investing would deal with these passive, indirect exposures and the Policy has never been applied in this manner" (July 10, 2012).
3. Data for these four pension funds are from their form 13F filings with the US Security and Exchange Commission (SEC) for June 30, 2012:
Ontario Teachers Pension Plan
Quebec Pension Plan
Public Sector Pension Investments
Ontario Municipal Employees Retirement System
Figures from these US SEC filings were converted to Canadian dollars (using the June 29, 2012, exchange rate) and were then rounded to the nearest $100,000.
4. Sources for CPP holdings in CAE are the CPPIB’s "Canadian Publicly-Traded Equity Holdings," Mar. 31, 2011, and Mar. 31, 2012.
www.cppib.ca/files/F2012_-_YE/Publicly-Traded_ Equity_ Holdings_-_CDN_-_March_31_2012_-_Eng.pdf
5. Sources for CPP investments in Carlyle Group are CPPIB’s "Private Equity Funds Commitments," June 30, 2011, and March 31, 2012.
6. Direct investments by CPP in 2011 included $16 million in Fiat Industrial SpA "Preferred" and $1 million in Fiat Industrial Spa "Common" shares.
7. The CPP’s direct investments in 2011 included $6 million in Hyundai Motor Co. "Preferred" and $47 million in Hyundai Motor Co. "Common" shares.
8. In 2011, the CPP’s direct investments in NICE were split between NICE Systems (ADR) ($4 million) and NICE Systems Common ($1 million).