This section contains news such as information relating to the current Covid-19 situation 

A message from Richard Neault, Vice-President of Pension Asset Management and Chairman of Investment Committees

The temporary cessation of work for Bombardier employees at BA, BT and corporate office does not include employees of the pension asset management team. The whole team is healthy and has been working from home for more than a week now. We are fully operational and managing the UK schemes assets on a daily basis as if we were still working together from the head office building in Montreal.

We have experienced significant financial market turmoil over the last few weeks. As we did during the 2008-2009 financial crisis, we have regularly rebalanced the portfolios during this turmoil to reduce the underweight in Equities and reduce the overweight in Fixed income in accordance with the investment policy of each scheme.

The structure of the two CIFs is very liquid with a large exposure to government bonds, Tbills and equity futures (and no exposure to private placements or hedge funds). We have therefore been able on several occasions to sell government bonds or TBills and to buy equity futures to bring back the actual portfolio weights closer to the target weights defined in the investment policies.

In difficult market conditions like these, it is important to keep the long term view. We do not know how long these conditions will last but this rebalancing discipline ensures that we will benefit from the rebound when it happens