CPPIB Statement About the Saskatchewan Government's Farmland Decision
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/13/15 -- Canada Pension Plan Investment Board (CPPIB) is concerned about the Saskatchewan government's decision to temporarily prohibit certain institutional investors from purchasing farmland in the province. CPPIB will be assessing the implications of the new restrictions over the coming days.
CPPIB has owned farmland in Saskatchewan for more than a year and intended to make further purchases. CPPIB was proactive about ensuring that it was a qualified buyer before it bought farmland in the province, including notifying Saskatchewan's Farm Land Security Board about its plans in advance. CPPIB did not receive any indication at the time that its investments in farmland were not welcome.
CPPIB, which invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 18 million contributors and beneficiaries, including more than 700,000 residents of Saskatchewan, is quintessentially Canadian. It was and still is permitted to buy the land under The Saskatchewan Farm Security Act. And it has heard from Saskatchewanians who believe that the patient, engaged and productive capital of 18 million Canadian savers, invested through CPPIB, could add considerable value to the sector and farmers.
"CPPIB has long been a proud investor in Saskatchewan businesses, and we trust that the government will ensure that the province remains open to Canadian investors," said Michel Leduc, Senior Managing Director & Global Head of Public Affairs and Communications at CPPIB. "We are confident that our farmland investments will generate returns for the CPP Fund while doing no harm to Saskatchewan, its farmland market or the farmers. If anything, they will benefit. We intend to fully participate in the government's review, and we welcome the government's perspective that Saskatchewan farmland should be owned by Canadians for the benefit of Canadians."
For more information please see the attached backgrounder.
According to a recent poll commissioned by CPPIB, a majority of Saskatchewan residents believe pension plans should be allowed to purchase Saskatchewan farmland: Among types of potential buyers, pension plans receive over two-third support (69%), second to Canadian individuals (74%).
The survey was conducted by Innovative Research Group Inc. Between March 27th and 29th, 2015, with a representative sample of 500 Saskatchewan residents 18 years or older. A random probability sample of this size has an estimated margin of sampling error of +/- 4.4 percentage points, 19 times out of 20.
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, New York City and Sao Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At December 31, 2014, the CPP Fund totalled C$238.8 billion. For more information about CPPIB, please visit .
Contacts:
Canada Pension Plan Investment Board
Tara Perkins
Director, Stakeholder Affairs
416-868-8622
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Datum: 13.04.2015 - 20:15 Uhr
Sprache: Deutsch
News-ID 385310
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TORONTO, ONTARIO
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