The Caisse de dépôt et placement du Québec (CDPQ) posts a return of 7.2% in 2023, a year marked by “historic volatility” on the stock and bond markets. The institution’s net assets thus increased by 32 billion dollars, to stand at 434 billion as of December 31, according to its results revealed Thursday.
Among the asset categories that performed the best: that of the stock markets which obtained a return of 17.7% – consistent with the Caisse’s benchmark index which stands for this category at 17.4%.
The infrastructure category was also dynamic thanks to the transportation and renewable energy sectors. Its yield, which stands at 9.6%, is well above the benchmark index, which is 0.3%.
Taking advantage of higher interest rates, the bond category posted a performance of 8.1%, slightly above the index of 7.7%.
At the other end of the spectrum, the private placement category has suffered from rising rates. The real estate portfolio still bears the brunt of an “industry in full transformation”. Respectively, their annual returns are 1% and -6.2%, compared to benchmarks of 10.5% and -10%.
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