CDPQ posts 4.2% return for first six months of 2024
The Caisse de dépôt et placement du Québec (CDPQ) posted a return of 4.2 per cent for the first six months of 2024, underperforming its benchmark index of 4.6 per cent.
However, the average annualized return over five years was higher than the benchmark portfolio for Quebecers' nest eggs. At 6 per cent, compared with 5.3 per cent for the benchmark, it represents nearly $14 billion in added value, according to the Caisse.
On Wednesday, the Caisse presented an update on its results for the first half of the year. As of June 30, 2024, CDPQ's net assets stood at $452 billion, an increase of $18 billion compared with the end of 2023.
CDPQ's President and CEO reported that the months of January to June were marked by various factors. These ranged, he said, from modest global economic growth, to the U.S. Federal Reserve postponing anticipated rate cuts, to strong stock market performance "which continued to be linked to a historic level of concentration in a handful of technology stocks."
"During this period, our diversified portfolio performed well overall, and our depositors' plans also remain in excellent financial health. Discipline is needed going forward, as the second half of the year has already seen its share of ups and downs and volatility," commented Charles Emond in a news release.
With regard to its real estate portfolio, the Caisse reported a negative return of 3.6 per cent over six months, compared with an index return of -0.9 per cent. The institution attributed it in particular to difficulties in the office sector and the high interest rate environment, which weighs on financing costs.
- This report by The Canadian Press was first published in French on Aug. 14, 2024.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.7033216.1726021317!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
Kamala Harris goes on offence against Donald Trump in combative debate
Democratic U.S. Vice-President Kamala Harris put Republican Donald Trump on the defensive at a combative U.S. presidential debate on Tuesday with a stream of attacks on abortion limits, his fitness for office and his myriad legal woes.
Key quotes from the Trump-Harris 2024 U.S. presidential debate
U.S. Vice-President Kamala Harris and former U.S. president Donald Trump took the stage on Tuesday night for their first and only scheduled presidential debate before the Nov. 5 election.
FACT CHECK: A look at the false and misleading claims made during the Trump-Harris debate
In their first and perhaps only debate, former U.S. president Donald Trump and U.S. Vice-President Kamala Harris described the state of the country in starkly different terms. As the two traded jabs, some old false and misleading claims emerged along with some new ones.
Trump campaign falsely accuses immigrants in Ohio of abducting and eating pets
Former U.S. president Donald Trump’s campaign and his allies are amplifying false rumours that Haitian immigrants in Ohio were abducting and eating pets, another instance of the inflammatory and anti-immigrant rhetoric Trump has promoted throughout his campaigns.
U.S. presidential historian predicts results of November elections. Here's who he says will win
An American presidential historian is predicting a Kamala Harris presidency as the outcome of the upcoming U.S. elections in November.
Some restaurants have increased their default tip options. Canadians think you should give this much
Despite what the default options on the payment terminal might read, most Canadians still want to tip around 15 per cent, according to a new survey.
Dave Grohl says he fathered a child outside of his marriage
The Foo Fighters frontman announced that he recently became a father again, writing in a statement on his Instagram page on Tuesday that his new baby girl was born 'outside' of his marriage to his wife Jordyn Blum.
$2M home belonging to children's musician Raffi on the market
Canada’s children’s troubadour is selling his B.C. home, which is now up for grabs for $1,995,000.
Sinaloa shootouts sparks fear of intra-cartel war in Mexico
Shootouts in the western Mexican state of Sinaloa have kindled fears that an intra-cartel war is about to break out in the wake of the arrest of legendary trafficker, Ismael 'El Mayo' Zambada, in July.