Overview of Activities 2001 (CDPQ)

Summary

• Total assets under management reached $133.1 billion at 31 December 2001.p.5
• The cumulative portfolios returned -4.99% in 2001, while depositors' annual returns ranged from -6.2% to 7.1%.p.6
• The real estate portfolio returned 13.9% in 2001 and the mortgage sector returned 9.4%.p.6
• Assets managed by CDP Capital - Global Markets grew from $82.3 billion in 2000 to $86.5 billion in 2001.p.15
• Private equity companies held a $16.7 billion portfolio in 867 companies, or 12.6% of assets under management.p.23
• CDP Capital d'Amérique returned 8.3% in 2001, against -12.6% for the TSE 300.p.11
• The real estate group holds a portfolio of $30.8 billion, the largest in Canada and the eighth largest worldwide.p.27

Key insights

1. Cumulative portfolio returns over 5, 7, 10 and 35 years were 7.9%, 10.4%, 9.3% and 9.5%.p.6
2. The currency hedging policy moved gradually from full hedging to a 50% hedge of US and foreign equity portfolios.p.11
3. Mortgage lending reached a record $1.9 billion, including a $378 million loan, the largest mortgage ever granted in Canada.p.11
4. Selling options during the market panic produced a gain of $100 million.p.17
5. Accès Capital International, with initial capital of $25 million, finances the expansion of SMEs outside Canada.p.20
6. Financial services investments totalled $200 million across 16 companies in 2001.p.25