The Canada Pension Plan Investment Board reported a net return of one per cent on its investments in the first quarter of its fiscal year, while Caisse de dépôt et placement du Québec posted a 4.2 per cent return for the first half of the year. As of June 30, CPP Investments and CDPQ had $646.8 billion and $452 billion, respectively, in assets under management. (The Logic)

Talking point: Both funds credited strong stock-market performance—particularly among the “Magnificent Seven” U.S. tech giants—for driving the gains. That was partially offset by losses on bonds, with persistently high inflation and interest rates in the U.S. driving down prices. Fellow “Maple 8” fund Ontario Teachers’ Pension Plan on Tuesday reported a 4.2 per cent return for the first half of its fiscal year, after ending 2023 with a 1.9 per cent return. Despite generally positive returns across the pensions, CDPQ CEO Charles Emond warned about ongoing economic instability. “Discipline is in order going forward,” he said in a press release, “as the second half of the year has already seen its share of twists and volatility.”