War of Words Over CPPIB's Active Strategy
Chief Investment Officer online, May 30, 2016
Keith Ambachtsheer has challenged a leading Canadian columnist following a scathing review of the Canada Pension Plan Investment Board’s (CPPIB) strategy.
Andrew Coyne of Canada’s National Post criticized the expansion of the C$278.9 billion (US$213.4 billion) pension in a column published May 18, highlighting “more staff, higher pay, rising operating expenses, and all for no appreciable payoff for the fund’s 18 million members.”
In an Open Letter to Coyne, KPA Advisory Founder Ambachtsheer questioned several of the columnist’s assertions, including that active management does not work.