Pension giant Caisse lost $24.6 billion last year investing in \’worst market in 50 years\’

The Caisse de depot et placement du Quebec (CDPQ) reported a negative return of 5.6 per cent in 2022, which they called \”the worst market in 50 years.\” The fund had a tough first six months last year due to rising inflation, historic interest rate hikes, and rising geopolitical tensions. CDPQ had net assets of almost $402 billion, down from $420 billion at the start of the year. All asset classes outpaced their respective indexes, with the fixed-income segment recording a loss of $20.1 billion for a negative 14.9 per cent one-year return in 2022. The equities class also generated a negative return, with a loss of 5.7 per cent or $12.1 billion over the year. Real estate and infrastructure performed well, with a one-year return of 12 per cent, above the 5.2 per cent of benchmark index. Despite the losses, CDPQ\’s weighted-average return on depositors\’ funds outperformed the negative 8.3 per cent return for the benchmark portfolio. CDPQ also made $4 billion in new investments and commitments in Québec last year. Follow my Facebook group to stay up to date on the latest news and trends in finance and investing.

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