Finance committee  I would say two things on that front, one on the structure of our mandate and then secondly on our investments in the energy transition. First of all, I think the country has been really well served by the simplicity of the mandate we were given back in the CPPIB Act in 1997, wh

Finance committee  Thank you for the excellent question. This is one that we will consistently wrestle with. Briefly to your first point, I won't give a market forecast. I'll give you an economic forecast—at least based on our economics team—and certainly it's a depressing environment. These fore

Finance committee  We'll see whether once-in-a-lifetime opportunities come back again. I mean, there may have been some in the depths of that crisis, and certainly we took advantage quickly of some opportunities, particularly in the credit markets. On the long-term trends, in a short answer, I th

Finance committee  Sure. We invested in Ant Financial a couple of years ago. It is partly owned by Alibaba. It is the largest fintech company in the world. They provide financial services, mainly from very small investors, smaller investors, medium-sized investors and SMEs. It has increased financ

Finance committee  Thank you for the excellent questions and ones that we wrestle with all the time. I think it's really interesting. If you look at the real estate portfolio and the real estate industry, there are certain parts of it that have really benefited in some ways from the pandemic. For

Finance committee  Yes. It would be the company that's listed in New York and Hong Kong.

Finance committee  That's correct.

Finance committee  Contractual structures like that are important to analyze and reach a really thorough understanding of the potential risks that are involved. That is absolutely one of the factors that is taken into consideration when the teams invest in any company. For a company of the size and

Finance committee  Thank you for the question. There are really two reasons that we invest in China. The first is that it is a very large market. It is the second-largest capital market in the world, and therefore it is one that we can diversify into. It's one that is, in many ways, uncorrelated w

Finance committee  Hi. Can you hear me on this one?

Finance committee  Yes. This has worked for about a thousand calls, but it just died on me, so I apologize to you and the committee. Where did I lose you? Where would you like me to recommence?

Finance committee  Okay, then maybe I will thank the committee for its patience. I think it's important to re-emphasize that point. You don't have to believe me necessarily on the sustainability of the CPP. It's important to recognize that every three years the office of the chief actuary conducts

Finance committee  Thank you. Good afternoon, Mr. Chair and committee members. I'd like to start my remarks by commending members of Parliament for your dedicated public service in response to the COVID-19 pandemic. I recognize these are difficult times for many of your constituents. When faced

Finance committee  One of the things to look at is the anticipated investment return level. The Office of the Chief Actuary anticipates that we will make returns of 3.9% over inflation on the base CPP over that 75-year time frame. I think you'll find that assumptions in other countries.... For ex

Finance committee  I do. We have a target today of 1.3% of our Canadian office to be indigenous Canadians. That's the target we're aiming for.