La Caisse Posts 5% First-Half Return as Stocks Rally, Private Equity Slumps
The Montreal-based pension manager said net assets rose to C$552 billion as AI-driven stock gains were offset by weaker private equity returns.
- Montreal-based pension manager The Caisse reported a 5.1% return for the first half of 2026, falling below its 7.5% benchmark, while net assets rose to $552 billion.
- Executive Officer Charles Emond cited geopolitical tensions in the Middle East and uncertainty surrounding the AI-related investment cycle as primary factors impacting the firm's performance during the period.
- The Caisse's stock portfolio returned 14.6%, outpacing the benchmark, but private equity fell 4.3% as holdings in technology and financial services faced valuation pressure from AI-related concerns.
- Real assets returned 5.5% and fixed income increased 1.7%, though the firm noted that depositors require an average return of 6% to meet their long-term obligations.
- Emond warned that "risks are multiplying," while record inflows from investors continued flowing into risky assets despite the challenging market environment.
13 Articles
13 Articles
La Caisse Posts 5% First-Half Return as Stocks Rally, Private Equity Slumps
Caisse de Depot et Placement du Quebec, Canada’s second-largest pension manager, fell short of its benchmark in the first half of the year as losses on private equity holdings pulled down the overall return.
Its private investment portfolio has suffered particularly, in contrast to stock exchange investments.
The return on the low wool of Quebecers as of June 30 is lower than its benchmark (7.5%). The net assets of La Caisse amount to $552 billion.
Le Journal de Montreal
Le Journal de QuebecThe Caisse de dépôt recorded a 5.1% return in the first six months of 2026, which is well below its benchmark.
By mid-2026, the Fund had an overall return of 5.1 per cent, a performance below its benchmark of 7.5 per cent.
The Toronto Star
La Caisse earns 5.1% return in first half of year, net assets total $552B
MONTREAL - Quebec pension fund La Caisse says the return on its fund for the first half of the year was 5.1 per cent, below its benchmark index's 7.5 per
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