Thank you, Madam Chair.
Thank you, Mr. Leduc, for being with us this morning. I want to say that any recommendations you make or any legislation you would recommend are incredibly valuable to us, because, of course, we're looking at that closely. The topic of the study today is incredibly important for us.
We recently saw one RBC report published this week with a finding that between 2015 and 2024 more than a trillion dollars in investments exited Canada. It is the largest capital exodus in Canadian history. As a major independent institutional investor, CPPIB presumably would be reflected in that figure.
Could you speak to the scale of this capital flight and what is driving it?