The PSPP's investment assets are managed by professional fund managers who must follow the Statement of Investment Policies and Procedures (SIP&P) approved by the Minister of Finance.
These investment assets are held in the Province of Prince Edward Island Master Trust. The PSPP, PEI Teachers' Pension Plan and the MLA Pension Fund participate in the Master Trust.
Approximately two thirds of funds in the Master Trust are assets of the PSPP.
Master Trust Fund Discretionary Investment Managers
as at March 31, 2026:
- Baillie Gifford Overseas Limited, based out of Edinburgh, Scotland, has been a Private Equity Manager since December 2021. Baillie Gifford invests in high-growth, predominantly late stage private companies across sectors and around the globe. The fund seeks to maximize returns for the limited partners by reinvesting in companies through multiple rounds of financing, both before and after an initial public offering.
- State Street Global Advisors, based out of Montreal, Que., has been actively managing the Master Trust Funds currency overlay strategy since December 2009. The active management currency overlay strategy is used primarily to reduce currency volatility of the Master Trust Fund's multicurrency global equity assets, with the potential for value added return beyond that of a passive hedging mandate. Since November 2018, State Street also manages a cash equitization mandate for the Master Trust.
- Lazard Asset Management based out of New York, manages a fund that is responsible to invest in Global listed infrastructure companies, since July 2015. The fund's objective is to achieve total returns by investing in companies listen on an exchange that own physical infrastructure.
- TD Asset Management (TDAM), based out of Toronto, has been an active and passive pooled investment manager for the Master Trust since February 2016. The Master Trust invests in two funds with TDAM, TD Emerald Core Plus and TD Emerald Core Plus. TD Greystone has been an active pooled fund Canadian real estate investment manager for the Master Trust since December 2011. TD Greystone manages a Canadian Mortgage fund for the Master Trust.
- Global Infrastructure Partners, based out of New York, N.Y., has been an active pooled global infrastructure investment manager for the Master Trust since July 2012. The focus for Global Infrastructure Partners is predominantly in the energy, transportation and water and waste sectors where it is able to secure large controlling positions in high quality, lower risk global infrastructure assets. Global Infrastructure Partners uses its industry expertise and operational best practices to enhance performance and create value for its portfolio companies in anticipation that investors will capture this increased value upon exit.
- Goldman Sachs Asset Management (GSAM), based out of New York, has been an active pooled core plus fixed income manager for the Master Trust since March 2016. The focus for GSAM is to seek total return consisting of capital appreciation and income that exceeds the benchmark. The fund managers have access to all sectors of the fixed income universe. Their disciplined investment approach centres on proprietary risk management models. The Master Trust invests in two funds: GSAM Canadian Core Plus Bond fund and the GSAM Canadian Long duration Core Plus Bond Fund.
- Morgan Stanley, based out of New York, N.Y., has been an active Core Global Real Estate manager for the Master Trust since December 2017. The Master Trust invests in the Morgan Stanley Prime Property fund.
- CBRE, based out of Los Angeles, Calif., has been an active Core Global Real Estate manager for the Master Trust since March 2018. The Master Trust invests in the CBRE Global Alpha Property fund.
- Arrowstreet Capital, is based out of Boston, Mass. Since November 2024, the Master Trust has invested in the Arrowstreet Global All-Country Fund II.
- BlackRock Asset Management Canada Limited is one of the world's leading providers of investment, advisory and risk management solutions. Since November 2024, the Master Trust has invested in BlackRock CDN ACWI Index Class A, which is designed to replicate the total return of the MSCI All Country World Index (ACWI).
- Causeway Capital Management LLC is based out of Los Angeles, Calif., and was selected to manage global equity assets as a value manager in July 2025. Causeway's investment philosophy integrates fundamental and quantitative research, aiming to identify mispriced equities with upside potential and dividend income.
- T. Rowe Price is a global investment management firm based in Baltimore, Md., with over $1.4 trillion in assets under management. T. Rowe Price Canada is based in Toronto and was selected to manage the global equity assets as a growth manager since July 2025.
- Industry Fund Services (IFM), based out of Australia, has been a core infrastructure manager with the Master Trust since December 2023. IFM Global Infrastructure Fund in a core infrastructure strategy that participates in the larger side of the market with a long investment horizon.
- Kohlberg Kravis Roberts & Co (KKR), based in New York, is a global investment firm specialized in alternative asset classes, including private equity, energy, infrastructure, real estate, and credit. KKR Diversified Core Infrastructure Fund is a low-risk core infrastructure offering that the Master Trust has invested in since December 2023.
- First Eagle Investment Inc., based in New York, is an independent, privately-owned investment management firm with extensive experience in direct lending and tradable credit investments through public and private vehicles, commingled funds including collateralized loan obligation (CLOs), and separately managed accounts. They were added as a manager of the private debt asset class in 2023.
- HarbourVest Partners, LLC, based in Boston, Mass., was selected to manage the private equity assets in December 2024. HarbourVest primarily focuses on private market solutions for institutional and high net worth investors globally.