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6/24/2003



Rail News: Rail Industry Trends

CPR outsources management of pension fund's Canadian equities


On June 23, Canadian Pacific Railway announced it selected seven firms to manage Canadian equity and bond portfolios in the railroad's pension fund.


The fund retains about $3.7 billion in total assets, including $2 billion in Canadian equities and bonds, $1.2 billion in foreign equities, and $500 million in real estate and mortgage investments.


CPR subsidiary Canadian Pacific Investment Management Limited (CPIM) previously managed the Canadian equity and bond portfolios. Because the Class I wants to focus on its core railroad business, CPR decided to seek external fund managers, according to a prepared statement.


Although CPIM will continue to manage the fund's real estate and mortgage investments, CPR is "examining alternatives" for managing that component, as well as the fund's foreign equities.


Contact Progressive Railroading editorial staff.

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