Our 2012 results contribute to the work we have done since we restructured our portfolios in the summer of 2009 to generate solid long-term results. Since the restructuring, we have generated a 10.7% annualized return despite an uncertain and volatile economic climate.
Michael Sabia
President and Chief Executive Officer
President and Chief Executive Officer
OVERALL RETURN
Overall return
9.6%
- Higher than the 9.3% return on the Caisse’s benchmark portfolio
- Positive results for 15 of the Caisse’s 16 portfolios
- Net investment results of $14.9 billion
CHANGES IN ASSETS

- Up $17.2 billion since 2011
- Up $56.1 billion since 2008
INVESTING IN Québec
Increase in Québec assets in 2012
$5.9B
- Helping companies grow internationally: CGI Group and Genivar
- Investing in promising projects: Camoplast, Gildan, Innergex Renewable Energy, Laurentian Bank, Rona and Solideal
- Participating in the growth of SMEs: investments in more than 60 companies throughout Québec, in partnership with Desjardins
Total Québec assets in 2012
$47.1B
- Continuing our commitment to Québec companies
- $27.6 billion invested in Québec’s private sector
PortFOLIOS
15 of 16 portfolios recorded positive resultsOPERATING EXPENSES
Operating expenses of 18.0 basis points per $100 of assets in 2011 decreased to 17.9 basis points in 2012.

To grow the funds of our
