OMERS achieved excellent investment results in 2010 with a 12.01% total fund return, building on the 10.6% return earned in 2009. This is the second consecutive year of strong returns for OMERS since the global financial crisis in 2008 and has resulted in a total increase in net assets of $9.9 billion over the past two years. In early 2009, as a result of an economic risk review following the 2008 market collapse, the OAC implemented a strategy to mitigate the risk to the Fund of a further market decline by significantly reducing our public equity exposure. The strategy was implemented to address the OAC's risks including the under-funded status of the pension plan and the related impact to contributions that would likely result from a further sharp decline in equity markets. Although public equity markets continued to contain a significant amount of risk in 2010, the likelihood of another financial system collapse was felt to be greatly reduced and public equity exposure was returned to normal levels. Like many other pension plans, OMERS continues to face a funding shortfall caused by the 2008 global economic downturn. The Plan's 2010 funding deficit was $4.5 billion, versus $1.5 billion a year earlier. These amounts are included in OMERS financial statements, which will be available later in the first quarter of 2011. Actuarial assumptions indicate OMERS requires an investment return of 6.5% annually to keep assets and liabilities in balance. That rate of return, combined with temporary contribution increases and benefit reductions, will see the Plan return to surplus in 2025. Based on our asset mix policy and active investment strategy, we believe we can generate average returns of 7% to 11% annually over the next five years. Doing so would return the Plan to surplus between 2015 and 2020 – five to 10 years ahead of schedule.