Newspaper article The Canadian Press

Canada Pension Plan Board Not Yet Interested in Cannabis Investments

Newspaper article The Canadian Press

Canada Pension Plan Board Not Yet Interested in Cannabis Investments

Article excerpt

CPPIB saying no to pot investments for now

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CALGARY - A spokesman for the Canada Pension Plan Investment Board says it is not yet interested in making direct investments in Canada's newly legalized recreational marijuana industry.

Michel Leduc, global head of public affairs and communications, says the sector, which began selling legal pot on Wednesday, is "not an area of focus" for the organization that invests Canada Pension Plan funds on behalf of about 20 million Canadian contributors and beneficiaries.

He says CPPIB's "tiny, tiny" exposure to the cannabis business is indirect and is the result of pot companies getting big enough to displace more traditional corporations on stock market indexes.

Leduc says fund managers are focused on options to invest in broad programs including infrastructure, commercial real estate and data technology, leaving few resources for emerging options like cannabis and cryptocurrencies. …

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