The Quebec pension fund announces a loss of 7.9% for the first six months of 2022 – Montreal

The Caisse de depot et placement du Quebec (CDPQ) announced a loss of 7.9% for the first six months of this year.

CDPQ Chief Executive Charles Emond said the first half of the year was very difficult with a mix of factors including stock and bond market corrections, fears of an economic slowdown and the war in Ukraine.

The Quebec investment manager affirms the result compared to a loss of 10.5% by its reference portfolio.

The fund’s real assets, which include its real estate and infrastructure portfolios, gained 7.9% for the six-month period, while its fixed income securities lost 13.1% and CDPQ shares fell. by 10.6%.

Overall, net assets fell to $391.6 billion as of June 30, from $419.8 billion as of December 31, 2021.

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The decrease was attributable to investment losses of $33.6 billion, partially offset by net deposits of $5.4 billion.

© 2022 The Canadian Press

Dolores W. Simon