The Caisse de depot et placement du Quebec has admitted Tuesday afternoon, having need cash last month. The agency had to sell assets to address the decline in financial markets. Last October, leaders of the Fund are departures of futures and equities. It is unclear, however, the amounts of transactions. The Caisse de depot et placement is limited to say they are much lower than those reported in the media. The Globe and Mail suggested in its Tuesday edition that the Fund had sold for about $ 10 billion of shares to generate cash. The sources say that daily losses are still quite high. In dropping assets during the collapse of financial markets, losses were theoretical necessarily materialized, said the newspaper. The Globe and Mail also claims that its hedging against exchange rate risks, those involving derivatives, and its activities in the international real estate sector was most affected. According to Michel Nadeau, a former senior officer of the Fund, the institution has made a good decision. "She needed additional liquid securities. It should generate cash. It was sold, and it was a good decision, "he said. In fact, the Fund could get less if it had delayed the sale, as markets continued to decline. Last Friday, the Fund was reassuring on the amounts of liquidity it could have. Leaders of the Fund stated that there was no liquidity problem and that the Fund could have 20 billion dollars. The Fund will publish its financial statements only in February, as scheduled, at the end of the year.
No comments:
Post a Comment