CPP Investment Board Expands Use of Axioma Portfolio
NEW YORK, May 17, 2007-Axioma Inc., a leading global provider of portfolio risk analysis and rebalancing tools for the financial industry, announced today that the CPP Investment Board (CPPIB) has renewed and expanded its licensing agreement with Axioma.
The CPPIB manages the $110.8 billion Canada Pension Plan Fund on behalf of more than 16 million Canadians. The new contract enables the CPPIB to increase its use of Axioma Portfolio™, Axioma's flagship suite of analytical tools for portfolio construction, and risk and exposure analysis.
"We are delighted to be expanding our relationship with the CPPIB," said Sebastián Ceria, CEO of Axioma. "The CPPIB has a clear and unequivocal mandate to maximize long-term investment returns while avoiding undue risk. We are proud that Axioma Portfolio has proven its value to the CPPIB and we look forward to continuing to help them to meet the investment objectives of the fund."
"Axioma Portfolio makes a significant contribution to our investment process," said Don Raymond, Senior Vice President, Public Market Investments, CPPIB. "We are very pleased with the special partnership we have developed with Axioma over the last year, and the performance and value their solutions deliver."
With its state-of-the-art robust optimization technology, Axioma Portfolio performs best where other solutions fail by accommodating real-world requirements that imply complex combinations of conditions. As a result, Axioma Portfolio produces more stable portfolios that are less sensitive to market fluctuations and thus keep transaction costs down.
About Axioma
Axioma, Inc. develops and markets innovative portfolio risk analysis, rebalancing and performance attribution products for the financial services industry. Founded in 1998 and headquartered in New York, Axioma helps leading financial firms to increase returns, productivity and scalability by improving the efficiency and speed of their investment processes.
For more information about Axioma, please contact Reid Gearhart, 914.734.1191, Ellen Kiernan at 212.991.4503 or visit the company's Web site at www.axiomainc.com.
About the CPP Investment Board
Canada Pension Plan Investment Board invests the funds not needed by the Canada Pension Plan to pay current benefits. In order to build a diversified portfolio of CPP assets, the CPP Investment Board is currently investing cash flows in publicly traded stocks, private equities, real estate, inflation-linked bonds and infrastructure to balance the legacy government bond portfolio. Based in Toronto, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At December 31, 2006, the CPP fund totalled C$110.8 billion. For more information, please visit www.cppib.ca.
