Investment manager saw $122 billion increase in net assets
Caisse de dépôt et placement du Québec has reported its financial results for the year ended December 31, 2017, showing a 9.3% annualized weighted return for the year.
Over five years, la Caisse’s clients’ funds returned 10.2% amounting to an extra $122.3 billion, taking the total to $298.5 billion with net investment results of $109.7 billion and $12.6 billion in net deposits from its clients. In 2017, net investment results were $24.6 billion. Net deposits totalled $3.2 billion.
Celebrating our industry successes in the wealth management industry
For the five-year period, la Caisse's eight main clients received returns between 11.5% and 8.7%, reflecting their differing investment policies and tolerance for risk. For 2017, their returns were between 10.9% and 8.0%.
"Over a five-year period, we achieved our objective: a solid return that exceeds both our benchmark and the long-term needs of our clients. The essence of our strategy is to deliver reliable results year after year with the goal of achieving good long-term performance. That's what occurred in 2017," said Michael Sabia, President and Chief Executive Officer of la Caisse.
“After years of performance bolstered by central banks, it's no surprise that the normalization process triggers market reactions like those we have seen recently. This volatility could have materialized at any time in recent months. So we continue building a more resilient portfolio that can withstand market transitions of this kind. All the while, geopolitical risks and tensions related to social inequality persist," concluded Sabia.
