Caisse de Depot et Placement du Quebec, Canada’s second-largest public pension, posted a negative annual return in 2022, the first time since the financial crisis.
But the pension did beat the market. CDPQ, as the provincial pension is known, saw a negative 5.6% return last year, compared with a 19% drop in the
S&P 500 index
At the end of 2022, it managed $295 billion in assets.