La Caisse earns 5.1% return in first half of year, net assets total $552B

Montreal - Quebec pension fund La Caisse reported a 5.1% return on its fund for the first half of the year, trailing its benchmark index's 7.5% return. As of June 30, the company's net assets reached $552 billion. La Caisse's chief executive, Charles Emond, noted that the first half of the year was marked by two major trends: enthusiasm for artificial intelligence and geopolitical tensions in the Middle East.

Emond highlighted that La Caisse's equity portfolio outperformed the market, with a 14.6% return over the six months ending June 30, outpacing the benchmark index's 13.6% return. The company's private equity portfolio, however, declined by 4.3% as concerns over AI negatively impacted certain industries, particularly insurance and financial services.