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Rail News Home Rail Industry Trends

6/24/2003



Rail News: Rail Industry Trends

CPR outsources management of pension fund's Canadian equities


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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.