What GIC and CPPIB have learned from the Covid crisis

The massive Covid-driven market turmoil this year has shown that there’s no such thing as too much portfolio stress testing and in the deepest crises even the most frequently traded listed assets can become illiquid. These were among the opinions voiced at an event last month by Jeffrey Jaensubhakij, group chief investment officer of Singapore sovereign wealth fund GIC, and Alain Carrier, London-based head of international at Toronto-based retirement fund Canada Pension Plan Inves…