Thank you.
I believe most of us around this table, if not all, would acknowledge that government doesn't always get investment decisions right. Medicago and CanSino come to mind. The federal government often fails in its investment decisions, so you'll understand why we on this side of the table are concerned that growth funds that are established by the government be properly managed by the individuals who can actually make the right decisions. I note that the mandate of the Canada growth fund is to actually absorb risks. That is your own testimony.
This is a little different from investing for conventional pension purposes, and yet the PSPIB is the organization you are drawing on to help make the investments for the CGF. I'm just wondering, why did you not cast your net more broadly as you were searching for a fund manager?