Trump wants Canada, Greenland and the Panama Canal

[Dr Strangelove]

[Dr Strangelove]

Amid 'Buy Canadian' fervour, Canada's top pension funds still heavily invested in U.S.
- CPP has reached a record $780.7 billion in assets.
- 47% of that is invested in the United States.
- Only 13% is invested in Canada.
- This ratio hasn’t changed at all since Donald Trump returned to office.
- CPP’s U.S. exposure has been growing steadily since 2005, when Ottawa removed limits on foreign holdings.
The American economy offers:
- more large‑cap companies,
- deeper capital markets,
- more investment vehicles,
- and higher liquidity.
For a fund the size of CPP, Canada’s market is too small to absorb the capital.

In 2005, Canada removed caps on foreign holdings in pensions and RRSPs.
Since then, funds have steadily diversified abroad — mostly into the U.S.