CDPQ Gains 7.7% in 2020

Rob Kozlowski of Pensions & Investments reports CDPQ returns 7.7% in 2020: Caisse de Depot et Placement du Quebec, Montreal, returned a net 7.7% on its investments in 2020 and reported net assets of C$365.5 billion ($285.9 billion), said a news release Thursday. The return was 1.5 percentage points below its benchmark, which the pension fund attributed primarily to the impact of the COVID-19 pandemic on real estate returns, specifically on the retail and office building sectors, the news release said. For the five and 10 years ended Dec. 31, CDPQ returned an annualized net 7.8% and 8.6%, respectively. For the year ended Dec. 31, 2019, CDPQ returned a net 10.4%. By asset class, equities posted the strongest return for the year, at a net 12.4% (slightly below its benchmark of 12.7%), followed by fixed income at 9% (above its 8.2% benchmark) and real assets at -7% (well below its benchmark return of 0.2%). As of Dec. 31, the actual allocation was 49.9% equities, 30.2