“We must take into account the size of the fund, the size of the Quebec economy. [...] That independence is written into the Caisse’s charter, and the dual 6 mandate is deliberately vague about the extent to which the Caisse has to contribute to the province’s economy. [...] The REM project, with $4.6 billion in investment from the Caisse, is a tangible example of the pension fund’s role in the province’s economic development. [...] Emond wants the Caisse’s infrastructure teams to do fewer, larger projects, and the REM has been a lesson in the promise in peril of that strategy. [...] “I’d rather broaden and diversify here, and then replicate and multiply the same thing abroad.” The first year of Emond’s second term will be pivotal, for the pension fund manager and the global economy.
Authors
- Pages
- 11
- Published in
- Canada
