Thank you, Madam Chair.
Mr. Leduc, I would just like to clarify a few things. You are told that 60% of your investments are in the United States, for example, and you are criticized for that. In my mind, I always had the sense that the U.S.'s share of global market capitalization was larger than its economy. The reason is that many companies listed on the exchange in the United States do business all over the world, including Canada, while companies listed on the exchange in Canada tend to operate mostly in Canada.
When you speak about the percentage invested in the U.S., is that percentage based on the market capitalization you have, or is it a measure of the business operations that take place in the U.S.? How is that calculated? Do those companies do business in Canada?