Depositors' Investment Policies

An Expression of Depositors’ Expectations

Each depositor is responsible for defining, in its investment policy, the manner in which it wants the Caisse to manage its funds. This is one of its responsibilities towards the Caisse. The depositor develops its policy together with the Caisse’s teams of investment professionals.

• The investment policy, which is reviewed at least every three years, includes the following essential items:
• Depositor’s profile and characteristics;
• Types of investments that make up its benchmark portfolio;
• Depositor’s expected return;
• Risk level the depositor is prepared to assume.

A CLEAR, PRECISE DOCUMENT
As clients of the Caisse, the depositors benefit from a wide variety of investment options, advisory services, training and a financial analysis and research capability that ensures that their expectations are well met. The investment policy allows each depositor to define its choices based on its needs and objectives.

Each investment policy specifies the:

• Profile of the depositor concerned and its characteristics;
• Nature of its activities, its financial commitments and liquidity requirements (over the short, medium or long term);
• Description of its objectives and constraints in terms of return, risk and investment horizon;
• Benchmark portfolio to which the Caisse must refer when allocating assets among the different types of investments;
• Market indices selected for a comparison of the results of the Caisse’s management;
• Frequency of meetings with the Caisse;
• Type of reports the Caisse must provide.