BCI Annual Report

F2020 Corporate Annual Report

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ERRATUM TO FISCAL 2020 CORPORATE ANNUAL REPORT Erratum to Fiscal 2020 Corporate Annual Report The Corporation advises that it has identified a process error associated with the transition to a new investment management platform that impacts the performance calculation for BCI's Realpool program for fiscal 2020, and previously reported returns included in BCI's Corporate Annual Report published on August 15, 2020. PAGE PAR AGR APH PREVIOUS TEXT UPDATED TEXT Highlights 2019-2020 Added Value $11.2 billion over the 10-year period Added Value $11.1 billion over the 10-year period BCI celebrates 20 years $12.2 billion in added value over the 20-year period $12.1 billion in added value over the 20-year period 5 Graph: BCI Annualized Pension Returns 1 year 3.0 10 year 8.5 1 year 2.9 10 year 8.4 5 Graph: Cumulative Value Added by BCI 1 year (0.25) 5 year 4.4 10 year 11.2 15 year 11.4 20 year 12.2 1 year (0.36) 5 year 4.3 10 year 11.1 15 year 11.3 20 year 12.1 9 5 Overall, our combined pension plan clients' returns slightly lagged the benchmark by 0.25 per cent this fiscal year. This represents a $253 million relative underperformance for the year compared to a $2.0 billion outperformance last year and a $4.4 billion outperformance over five years. Overall, our combined pension plan clients' returns slightly lagged the benchmark by 0.34 per cent this fiscal year. This represents a $364 million relative underperformance for the year compared to a $2.0 billion outperformance last year and a $4.3 billion outperformance over five years. 9 6 Over our 20-year history, through market downturns and material disruptions, BCI has outperformed the benchmark by 0.7 per cent on average per year, which represents $12.2 billion of value-added activity. Over our 20-year history, through market downturns and material disruptions, BCI has outperformed the benchmark by 0.7 per cent on average per year, which represents $12.1 billion of value-added activity.

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