CDPQ Looks to Trim US Assets as CEO Worries About Stagflation

The head of Caisse de Dépôt et Placement du Québec said it’s time for the fund to scale back on US investments after years of growth and great returns.

“It’s been 10 years of US exceptionalism,” Chief Executive Officer Charles Emond said. “Obviously, you got to a point where we reached sort of a higher percentage than usual. We’re at 40% of our total fund in the US. I’d say that’s kind of the peak, like to trim a bit.”

CDPQ had C$473 billion ($346 billion) of assets under management at the end of last year, making it Canada’s second-largest ...