Canada Pension Plan Investment Board, the country’s largest retirement fund, hired a former Citadel LLC manager in a push to expand investments in publicly traded stocks in Asia.
Agus Tandiono joined in Hong Kong on Jan. 6 as a senior fund manager, said Mark Machin, Hong Kong-based head of international investment at the pension also known as CPPIB. He’s one of the first two employees on the global corporate securities long-short equity team in Asia, Machin said.
CPPIB, which has returned an annualized 6.8 percent over a decade through Sept. 30, plans to find more active investment opportunities in the next few years, Machin said at a conference in Hong Kong in June. In Asia, where the pension invests C$27.2 billion ($25 billion) of its C$192.8 billion in assets, equity investments have largely been tracking indexes, he said.
CPPIB plans to build a small team in Asia for active equity investments, Machin said. These investments refer to those that do not track benchmark indexes.
Tandiono will focus on active equity investment in Asia outside of Japan, he said. Prem Samtani, who previously worked on different CPPIB initiatives across Asia, will lead similar investments in Japanese stocks.
CPPIB manages retirement savings for 18 million people in every Canadian province except Quebec. Its Asia investments may reach C$80 billion by 2030, Machin said at the conference last year. Improved China market investability and other changes may further boost the amount to C$150 billion by then, he added.
Tandiono left Citadel, where he was a Hong Kong-based fund manager, when the Chicago-based hedge-fund company founded by Kenneth Griffin cut six Asian equity jobs and moved oversight of such investments back to Europe and the U.S., Katie Spring, its spokeswoman said in July last year.
Tandiono and Samtani report to Machin, who is also president of CPPIB’s Asia business, and David Yuen, who joined the pension fund’s Toronto office in 2012 to lead the team.
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