Cpp Investments

Canada's Largest Pension Fund Cuts Staff Amid China Deal Suspension

Originally Published 2 years ago — by Reuters

CPP Investments, Canada's largest pension fund, has laid off at least five investment professionals at its Hong Kong office and put a hold on new investments in China, including direct investments and those in China-focused fund managers. The fund's decision comes amid China's faltering economic recovery, tensions with the West, and a challenging business climate for foreign firms. Other Canadian pension funds, such as Ontario Teachers' Pension Plan and Caisse de dépôt et placement du Québec, have also scaled back their investments in China. China currently accounts for 9.8% of CPP's total investments.