Finance committee  May 28.

Finance committee  Sure. We follow public disclosure timelines. Our report will be available to all Canadians at the end of May. What we do, first thing, is give it to our auditors to sign off on the results. Secondly, our board of directors signs off on the results. Then we provide the results, being our entire annual report, to our stewards.

Finance committee  Yes, it's tabled in Parliament.

Finance committee  In February, we reported our December 31 results, which were for the first three quarters of the year. Correctly, there was a decline of $13.8 billion, which translates into a negative 13.7%. If you want to compare the 2008 calendar year, just because some people think in calendar years, there was a decline of $18.3 billion, with a decline of 14.4%.

Finance committee  I think to respect our stewards--

Finance committee  We have a very transparent disclosure process. We actually give out quarterly results.

Finance committee  I'm afraid, until it's been signed off--one, by our auditors, and two, by our board of directors--and then tabled before our stewards, it would be completely inappropriate to--

Finance committee  Sure, we partner with other pension funds globally.

Finance committee  No comment.

Finance committee  I don't think it's appropriate for us to comment on the results of the Caisse or the other plans. What I can point out, though, is that we enjoy a very strong governance model, which was set up originally in 1999, when the CPPIB was first enacted. We have a very clear mandate. We have a very long-term investment horizon.

Finance committee  I think you have to start with an appropriate governance model. We get many, many pension funds from around the world coming and asking us how we follow our investment—

Finance committee  On a specific basis, I'm not familiar with theirs. We have an independent board that is appointed by—

Finance committee  I think what you have to look at is our long-term horizon. As Mr. Ménard pointed out earlier, we won't have to pay benefits for another 11 years, and there are other factors that he would be in a better position to—

Finance committee  Perhaps Mr. Raymond would like to talk about investments.

Finance committee  Sure. Don, do you want to describe the benchmarks?