Canada Pension Sees Emerging Markets, U.S. Consumer Credit Gains
- Fund ended year with 20.4% return, nearly C$500 billion AUM
- Home improvement loans ‘exceeded our expectations,’ CEO says
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Canada Pension Plan Investment Board is bullish on U.S. consumer credit and sees good opportunities in emerging markets, despite the devastating toll the Covid-19 pandemic has taken on leading countries such as Brazil and India.
U.S. households are flush with savings and central banks will continue to prime the economy with easy money for a while, new Chief Executive Officer John Graham said in an interview. That’s positive for returns in consumer-oriented investments, he said.