The Caisse categorically denies misleading AQRP allegations
Montréal, August 25, 2010 -
The Caisse de dépôt et placement du Québec categorically denies the misleading allegations of the Association québécoise des retraité(e)s des secteurs public et parapublic (AQRP), in its August 20 and 23 press releases, about the figures published by the Caisse in its August 19 press release, which announced the institution’s overall return for the first half of the year.
The AQRPfalsely implied that the Caisse may have omitted important facts in presenting its semi-annual returns—in addition to casting doubt on the institution’s verification process and the accuracy of its figures.
In fact, the Caisse’s semi-annual return figures have been established with rigor to the highest quality standards. They have been reviewed and approved by the Caisse’s Audit Committee and Board of Directors. The figures accurately reflect the status of funds managed by the Fund for its depositors, contrary to AQRP’s allegations.
In addition, the return for the first six months of the year (2.33%) and the amount of value added ($4.1 billion) are clearly explained and fully comply with the Caisse’s Information Disclosure Policy.
“The Caisse is a public institution, so we understand the importance of providing first-rate reporting of our activities. We also recognize that certain individuals and organizations wish to comment on our performance. However, we deplore AQRP’s unfounded allegations, which are clearly aimed at undermining the credibility of the Caisse, its employees and its Board of Directors,” said Denis Couture, Executive Vice-President, Public Affairs.
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. At December 31, 2009, it held $131.6 billion of net assets. As one of the leading institutional fund managers in Canada, the Caisse invests in the main financial markets as well as in private equity and real estate.
For more information: www.cdpq.com.
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