Caisse generates 9.6 per cent return in 2012; assets grow to $176.2 billion

MONTREAL – The Caisse de depot says it generated a 9.6 per cent return on its investments in 2012, raising its assets to $176.2 billion from $159 billion in 2011.

Quebec’s largest pension fund manager, which slightly beat the benchmark portfolio of 9.3 per cent, added $14.9 billion in net investment returns and $2.3 billion in net depots.

“Our 2012 results contribute to the work have done since we restructured our portfolios in the summer of 2009 to generate solid long-term results,” CEO Michael Sabia, who took over in March of that year, said Wednesday.

Since 2009, the Caisse has generated a 10.7 per cent annualized return despite economic volatility.

“These results reflect the efforts we’ve made in recent years, but one thing is certain: we still have more work to do,” he added.

“In a changing world economy that has begun to gradually recover, we will continue to pursue our new strategic plans, which aim for even greater long-term stability.”