Skip to content

CDPQ reports 7.9 per cent loss for first six months of 2022

MONTREAL — The Caisse de dépôt et placement du Québec reported a loss of 7.9 per cent for the first six months of this year.
2022081712088-301992a9ad3bb8250cb62357116f33759955ba4f045f602bf11627d786239fc0
La Caisse de Depot et de Placement du Quebec president Charles Emond responds to a question during a news conference in Montreal on Wednesday, August 17, 2022. THE CANADIAN PRESS/Paul Chiasson

MONTREAL — The Caisse de dépôt et placement du Québec reported a loss of 7.9 per cent for the first six months of this year.

CDPQ chief executive Charles Emond says the first half of the year was very challenging with a mix of factors including corrections in both stock and bond markets, fears of an economic downturn and the war in Ukraine.

The Quebec investment manager says the result compared with a loss of 10.5 per cent by its benchmark portfolio.

The fund's real assets, which include its real estate and infrastructure portfolios, gained 7.9 per cent for the six-month period, while its fixed income holdings lost 13.1 per cent and CDPQ's equities fell 10.6 per cent.

Overall, net assets fell to $391.6 billion at June 30 compared with $419.8 billion at Dec. 31, 2021.

The decrease was due to $33.6 billion in investment losses, offset in part by $5.4 billion in net deposits.

This report by The Canadian Press was first published Aug. 17, 2022.

The Canadian Press

push icon
Be the first to read breaking stories. Enable push notifications on your device. Disable anytime.
No thanks