Malls and offices push Caisse s results below benchmark
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Exposure to malls, office buildings and other sectors hit by the pandemic weighed on the performance of Caisse de Depot et Placement du Quebec last year, which returned 7.7 per cent thanks to investments in private credit and equity.
Net investment income for 2020 was $24.8 billion (US$19.8 billion), down from $31.1 billion a year earlier, the Montreal-based fund manager said Thursday. Net assets rose to $365.5 billion as of Dec. 31, from $340.1 billion at the end of 2019.
OMERS posts 2 7% loss on investments in 2020, first negative returns since 2008 financial crisis
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Municipalities have options to cut taxes
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