Saudi Arabia’s sovereign wealth fund sold all of its holdings of Suncor Energy stock. However, the integrated oil company still has the support of Canada’s largest pension funds.
QuadReal Property Group, the real estate investment arm of British Columbia Investment Management Corp, has established an operating partner group to support portfolio investments.
The combined value of oil sands investments of Canada’s largest pension funds continues to grow as some of the funds are actively adding to their positions
Canada’s top pension funds boost investments in high-carbon oil sands
Canada’s biggest pension managers boosted their investments in the country’s major oil sands companies in the first quarter of 2021, raising questions about the funds’ recent commitments to greening their portfolios.
The cumulative investment by the country’s top five pension funds into the U.S.-listed shares of Canada’s top four oil sands producers jumped to $2.4 billion in the first quarter of 2021, up 147% from a year ago, a Reuters analysis of U.S. 13-F filings show. Much of that increase, which bucked a declining trend since 2018, came from rising prices of shares already owned, but the funds also purchased more shares.