Thank you very much again for the kind comments about our organization's performance. We appreciate that.
With respect to Europe, it has been a significant destination for our investments, the U.K. in particular. We have about 7.5% of our assets invested in the U.K.
Michel may not want me to drift off into the realm of policy, but speaking as a Brit, I'm disappointed in Brexit. I'm disappointed with that decision.
Speaking as president and CEO of CPPIB, I will say that we're concerned about the impact it will have on valuations and growth prospects in the U.K. We're monitoring that carefully. We hope that it will not have any impact on the openness to investment that the U.K. has displayed.
Europe overall continues to have relatively low growth, very low interest rates, and a number of other financial sector risks that we monitor very carefully and navigate around carefully.