Figure 18 - CLMPC-PIAC Survey Barrier #4: Returns are Inadequate, Unreliable

• Not, 10%
• Somewhat, 24%
• Important, 36%
• Very, 30%

Highlights

• Approximately two-thirds (66%) of PIAC respondents rated this barrier as important or very important
• Little variance by size of pension fund

Some PIAC Member Comments

• Returns "history" in Canadian private capital markets is limited
• Liquid asset returns (e.g. public equity) as good or better, currently
• Establishing a benchmark for returns performance is diff
• Many pension fiduciaries uncomfortable with volatility
• Past experience is a factor

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