Canada Pension Plan (CPP) Investment Board records showed Canadian workers invested millions in Israel..According to Blacklock’s Reporter, the holdings, which amount to over $120 million, consist of shares in some of Israel's largest banks that have been affected by terrorist attacks..The CPP has invested $20 million in shares of Bank Leumi Le-Israel, which is located in Tel Aviv. This bank had to shut down some branches near the Gaza war zone because the Israeli Defence Force ordered them to close..The Investment Board has $18 million in shares at a bank in Tel Aviv called Bank Hapoalim BM. On Tuesday, this bank set up a fund to help Israeli depositors and businesses living within 40 kilometres of Gaza by giving them loans without interest..The CPP does not invest in Palestine. A past CEO told the Commons Finance committee that the goal is to make the most money for pensioners with the least risk..“We have two sides to our mandate, maximizing returns without undue risk,” then-CEO Mark Machin testified at 2020 committee hearings. .“It’s very important for us to thoroughly understand all the risks of investing in any market, not just at an individual security level or an individual company level but also the risks of the market overall and where they might be going. We spend a lot of time understanding those risks.”.The Board does not own any Israeli real estate. However, stock holdings totalled $121 million, including $7 million in Cyber Ark Software Ltd., the Israeli subsidiary of a U.S. security company, $10 million in Israel Discount Bank of Tel Aviv and $17 million in Nice Ltd. of Ra’anana, formerly Neptune Intelligence Computer Engineering..Canadian pensioners own $27 million in stock with Teva Pharmaceutical Industries Ltd., a Tel Aviv generic drug maker, $10 million in potash miner ICL Group Ltd. of Tel Aviv, $7 million with software company Wix of Tel Aviv, and $5 million worth of shares in Tower Semiconductor Ltd. of Migdal HaEmek, Israel..“Managing money is not simple,” CEO Machin told the Finance committee. .“It is very competitive.”.“Canada Pension Plan Investments has a critical mission, which is to help ensure Canadians have a strong foundation of financial security in retirement,” said Machin. .“To do so, we invest the assets of the Canada Pension Plan with a clear objective, to maximize returns without undue risk of loss.”.The Board manages $575 billion. They have invested in coal mines in British Columbia, beer factories in Belgium, railways in China, offices in Houston, and shopping centres in Stockholm.
Canada Pension Plan (CPP) Investment Board records showed Canadian workers invested millions in Israel..According to Blacklock’s Reporter, the holdings, which amount to over $120 million, consist of shares in some of Israel's largest banks that have been affected by terrorist attacks..The CPP has invested $20 million in shares of Bank Leumi Le-Israel, which is located in Tel Aviv. This bank had to shut down some branches near the Gaza war zone because the Israeli Defence Force ordered them to close..The Investment Board has $18 million in shares at a bank in Tel Aviv called Bank Hapoalim BM. On Tuesday, this bank set up a fund to help Israeli depositors and businesses living within 40 kilometres of Gaza by giving them loans without interest..The CPP does not invest in Palestine. A past CEO told the Commons Finance committee that the goal is to make the most money for pensioners with the least risk..“We have two sides to our mandate, maximizing returns without undue risk,” then-CEO Mark Machin testified at 2020 committee hearings. .“It’s very important for us to thoroughly understand all the risks of investing in any market, not just at an individual security level or an individual company level but also the risks of the market overall and where they might be going. We spend a lot of time understanding those risks.”.The Board does not own any Israeli real estate. However, stock holdings totalled $121 million, including $7 million in Cyber Ark Software Ltd., the Israeli subsidiary of a U.S. security company, $10 million in Israel Discount Bank of Tel Aviv and $17 million in Nice Ltd. of Ra’anana, formerly Neptune Intelligence Computer Engineering..Canadian pensioners own $27 million in stock with Teva Pharmaceutical Industries Ltd., a Tel Aviv generic drug maker, $10 million in potash miner ICL Group Ltd. of Tel Aviv, $7 million with software company Wix of Tel Aviv, and $5 million worth of shares in Tower Semiconductor Ltd. of Migdal HaEmek, Israel..“Managing money is not simple,” CEO Machin told the Finance committee. .“It is very competitive.”.“Canada Pension Plan Investments has a critical mission, which is to help ensure Canadians have a strong foundation of financial security in retirement,” said Machin. .“To do so, we invest the assets of the Canada Pension Plan with a clear objective, to maximize returns without undue risk of loss.”.The Board manages $575 billion. They have invested in coal mines in British Columbia, beer factories in Belgium, railways in China, offices in Houston, and shopping centres in Stockholm.
