Caisse de Depot et Placement du Quebec posted a 2.3% loss in the first half of 2020 after largely missing the rally in large technology stocks and suffering from its heavy exposure to shopping malls.
Canada’s second-largest pension manager underperformed its benchmark, which was up 0.8% in the half, the firm said in a statement Friday. The fund returned 6.1% in the same period a year earlier. Net assets were C$333 billion ($249 billion) as of June 30, compared to C$340 billion at the end of the year.
