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Caisse de dépôt achieves a return of 13.5% for 2021 | Fodrell Solange

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Maria Gill
Maria Gill
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Caisse de dépôt et placement du Québec (CDPQ) reported a return of 13.5% in 2021, while its real estate portfolio is showing signs of recovery.

In doing so, it surpassed its benchmark index, which returned 10.7%. Over five and ten years, the Quebec low-income portfolio has posted a return of 8.9% and 9.6%, respectively.

Charles Emond, President and CEO of CDPQ, acknowledged that the day the results were announced came at a time of great uncertainty with Russia’s invasion of Ukraine.

It’s a special context to announce record results, but at the same time, I think we have reason to be very proud of these results. It is important for people to know that their retirement savings are working well.»

The real estate portfolio has shown signs of recovery, two years after Caisse announced its change of position in the sector. Real estate assets generated a return of 12.4% in 2021, compared to a return of 6.1% from its benchmark.

This asset class continues to underperform over five years, with a return of 1.5%. The administration attributes the difficulties it is facing to the impact of the pandemic and containment measures on shopping malls and office buildings.

The fund had net assets of $420 billion on the last day of fiscal 2021, compared to $365 billion at the end of 2020.

The company’s total assets in Quebec increased by $10 billion to $78 billion. Of this figure, $60 billion is in the private sector.

Caisse’s operating expenses represented 0.23% of its assets in 2021.

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Stephane Rolland, The Canadian Press

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