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Quebec pension fund says must 'raise game' to maintain returns

Published 2015-08-14, 11:46 a/m
© Reuters. Quebec pension fund says must 'raise game' to maintain returns

By Allison Lampert
MONTREAL, Aug 14 (Reuters) - Caisse de depot et placement du
Quebec, Canada's second-largest pension fund manager, said it
will have to "raise its game" if it is to continue to deliver
yields like the weighted average return of 5.9 percent it
reported Friday for the first six months of 2015.
The Caisse, which manages public pension plans in the
predominantly French-speaking province of Quebec, has said it is
counting on yields from its infrastructure and real estate
divisions to carry the load given expected weaker returns from
equity markets. ID:nL1N0VZ1YQ
Its four-year average annual return has been 10.2 percent.
"Like all investors, the Caisse has certainly benefited from
bull markets that have been fueled by stimulative monetary
policies," Chief Executive Michael Sabia said in a news release.
"Continuing to do well will be even more challenging in the
months and years to come," he added. "Against a backdrop of high
asset valuations and growing economic and geopolitical risks, we
will need to be even more rigorous in choosing our investments."
The Caisse reported net assets of C$240 billion ($184.12
billion) as of June 30, compared with C$225.9 billion at the end
of 2014.
($1=$1.3035 Canadian)

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