In a new report, Canada’s largest pension fund outlined four factors that are likely to impact investment long term: permanent changes in consumer behaviour, including broad e-commerce adoption among older consumers; a shift toward telehealth despite concern over personal data privacy; outmigration’s impact on cities; and diversification of global supply chains. (The Logic)

Talking point: The report offers some insight into how Canada Pension Plan Investments may shift its long-term strategy for investing its $434 billion in assets on behalf of some 20 million Canadians. In an interview with The Logic in May, CPPIB CEO Mark Machin said the firm intends to keep growing its portfolio exposure in China and that it was not prepared to offload its real estate investments at that point. The new analysis calls into question those priorities, suggesting urban infrastructure may lose value and the China-reliant global supply chain may fracture.