Publication of the annual report 2008 of the Caisse de dépôt et placement du Québec

The Annual Report 2008 of the Caisse de dépôt et placement du Québec was tabled in the National Assembly today by Raymond Bachand, Minister of Finance, and is now available for consultation on the Caisse’s website at www.cdpq.com.

The 180-page document provides a detailed analysis of the Caisse’s financial position and the weighted average return on its depositors’ funds as at December 31, 2008, in addition to information on its contribution to Québec’s economic development and its management framework. Also included are the activity reports of the Board of Directors and its committees. The Annual Report 2008 Additional Information gives the composition of and changes to the institution’s 18 specialized portfolios.

Contribution to economic development
In the section on its contribution to Québec’s economic development, the Caisse reports that its total assets in Québec amounted to $33.4 billion as at December 31, 2008, including $17.3 billion in the private sector. The institution made 137 new investments totalling $777 million during the year. At the end of 2008, in a context in which credit had become more costly and less accessible, the Caisse allocated $1.5 billion to meet the needs of Québec companies.

Remuneration and bonuses
The Annual Report 2008 also describes the composition, mandate and achievements of the Board of Directors and its various committees, as well as the remuneration of the directors and the main officers. Some changes have been made this year to the way the information on remuneration is presented. For example, the summary of main officers’ total remuneration includes the value of their pension plans. More detailed information on their pension plans and separation allowances is also provided.

No bonuses were paid under the Caisse’s variable remuneration program as a result of the performance obtained in 2008.

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. It held $120.1 billion of net assets as at December 31, 2008. 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