Trump’s chaos pays Canadian and Danish pensions to cool us

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Some of the world’s largest pension funds stop or re -evaluate their own market investments in the United States, saying it will not resume until the country will settle after the Donald Trump’s wrong policy.

These moves emphasize the extent of rehabilitation of their exposure to the largest economy in the world as the commercial policy of the commercial policy increases, which adds pressure on the private capital industry in America, which is subject to the pressure of increased liquidity.

Some major Canadian funds are back away from taking more American private assets due to geopolitical concerns and fears that they will lose tax exemptions on their American investments. Canada’s pension plan, which includes 699 billion dollars ($ 504 billion) in assets, is among those who consider its approach.

Meanwhile, one of the largest retirement funds in Denmark has stopped new investments in American private stocks due to fears of stability and Trump threats to take over Greenland, according to the fund’s CEO at Financial Times.

“If some private stock boxes come and say,” We have a great investment in the United States, “said the executive official.

The markets swing violently this month after Trump announced that he would impose a severe tariff on the largest commercial partners in America, before a 90 -day stoppage on submitting some fees.

The Executive Director of the Danish Fund said that the American approach to Greenland, a semi -independent area that Trump pressed Denmark to control control, was “very hostile.” “It is difficult to find a happy smile and say only,” We are now starting to invest in this country. ”

Another Danish box is also declining. Anders Shield, the chief investment official of Akademikerpence, who runs DKR150 billion (20 billion euros), said he is now discussing the attractiveness of American investments “on a daily basis.

Shield said that he began to think about “somewhat basic changes” on his wallet that “could definitely take us on a way with a much less strategic exposure to American assets within half a year or so.”

Stephanie told a loss, Minister of Economy in Denmark, FT that she was not aware of the Danish funds that changed her approach to the United States. However, she added that the money tends to expand the scope of investments due to “risks and uncertainty” and that decisions “may be a side effect of both definitions and Greenland.”

A person familiar with the Fund’s thinking said that CPPIB, the largest pension plan in Canada, has become more cautious in its exposure to the American infrastructure for fear that it would lose the tax exemption status granted to foreign governments and pension funds.

Another person who recently discussed discussions with the pension giant said that it would be “very difficult” for the fund to adhere to a new capital of US private capital in view of the geopolitical background.

CPPIB did not respond to the suspension requests.

CPPIB has large stakes in more than 50 industrial properties, retail, offices and residential across the United States. She had approximately $ 50 billion of private stock boxes in dollars at the end of September, including the money managed by Silver Lake, Carolle and Blackstone, according to public data analysis.

Another large Canadian large retirement fund strategy said that there is “a lot of uncertainty” regarding the type of infrastructure investment that Trump welcomed.

The person added: “If we do not feel comfortable with investing in the United States for a period of six or 12 months, we will move from making deals … then we will consider controlling our strategy.”

Tensions erupted between Washington and Ottawa on the definitions and suggestions of Trump that Canada will become the 51st country of the United States.

However, some Canadian pension funds expect that they will still be displayed in the United States. Caise de Dépôt et Pilent du Québec, which has $ 473 billion of assets, said she believes that half of her own stock portfolio will remain in the United States.

“It is difficult to invest everywhere these days – political geography has become more complicated … we intend to stay active in the United States,” said Martin Longshamb, head of private and credit stocks at CDPQ.

But he added that “the noise of customs tariffs makes it difficult to evaluate companies and we have to take this into consideration until things stabilize.”

Two senior executives in private stocks in the United States said they started concern about Canadian investors who are making new investments in their money.

Although they saw no change in money flows, they said they believed that Trump’s aggressive approach to Canada had angered the country and there was a danger that political officials would pressure the country’s large pensions to restrict new investment in the United States.

Robert Smith participated in London and Richard Millen in Warsaw