Finance committee  Overall, in the last three years, we've provided a return of 5.5% to our shareholders.

Finance committee  Annually, that’s correct.

Finance committee  We would like to work hand in hand with the Canada economic action plan. We propose investing heavily outside of Quebec, with the government of Quebec's permission. We believe it is a winning solution for all three parties. Both industry and government come out ahead, because the

Finance committee  Let's take the last five years, which have not been easy years. I think everybody would agree with that. Our overall profits were over $2 billion. The increase in the share value has been $6.20—a 28% increase in the value of the shares. We've been able to increase the number of n

Finance committee  That’s 5.5% to our shareholders, without the tax credit. If you compare this performance with our mission, which is to invest principally in Quebec in SMEs with unsecured capital, that's a good return.

Finance committee  I can give you as an example the credit crisis that we went through in 2008-2009. I think that everyone around the table remembers that tragic and very serious period that was extremely important. While banks and other private funds withdrew from the markets, our fund committed $

Finance committee  Well, I think you're absolutely right; the Canadian Venture Capital Association sees the elimination of the tax credit as being bad news, as being probably not the wisest decision to be made at this time. Why? Because we've become over the years a very important source of capital

Finance committee  Just to give you an example, in the venture capital action plan program there was a decision made to support four funds, three of which we have started. Lumira, CTI, and Real Ventures were supported by the venture capital action plan. The other fund is Summerhill, and they were t

Finance committee  Allow me a few minutes here. The fund's primary mission is to encourage people to save for retirement. Then its goal is to invest 60% of that money in economic development and job creation in all sectors of economic activity, that is to say in eligible companies, usually SMEs,

Finance committee  That is correct.

Finance committee  Yes.

Finance committee  Yes. We felt that, for the government, the tax credit was not really effective from a venture capital point of view. So we agreed to spend $2 in venture capital for every dollar of the tax credit. The fund is mainly concentrated in Quebec, but we reached an agreement with the Que

Finance committee  Once again, we believe that it is a matter of cooperation. Both sources of capital must be maintained. Why not keep two sources of capital available? One source of capital is working well. We have invested over $2 billion in venture capital. Can you name anyone else in Canada w

Finance committee  We have not had any feedback on the subject.

Finance committee  Not at all.