9. Net Investment Income

For the year ended December 31 ($ millions)
 Earned Income   Realized Gains/ (Losses)   Unrealized Gains/ (Losses)   Net Investment Income/(Loss)
2010
Fixed income
Cash and short-term investments $ 6   $ (3)   $ 4   $ 7
Government and corporate bonds                      
Candian   56     12     73     141
Foreign   1     2     1     4
Real return bonds                      
Canadian   31     -     101     132
Foreign   -     -     -     -
Government of Ontario debentures   95     (7)     (56)     32
    189     4     123     316
Public equity
Canadian   63     170     231     464
Foreign   65     62     181     308
Foreign pooled equity linked investments   3     -     11     14
    131     232     423     786
Real estate   72     (3)     89     158
Private markets   83     (5)     77     155
Foreign exchange forward contracts   -     187     51     238
    475     415     763     1,653
Investment expenses
Investment manager fees                     (62)
Custodial fees                     (3)
Transaction fees                     (6)
Other investment expenses                     (52)
                      (123)
NET INVESTMENT INCOME                   $ 1,530
               
2009
Fixed income
Cash and short-term investments $ 8   $ -   $ 4   $ 12
Government and corporate bonds                      
Canadian   56     5     17     78
Foreign   -     1     (1)     -
Real return bonds                      
Canadian   31     14     99     144
Foreign   -     -     -     -
Government of Ontario debentures   112     (10)     (60)     42
    207     10     59     276
Public equity
Canadian   66     (45)     621     642
Foreign   64     (128)     605     541
Foreign pooled equity linked investments   -     (26)     29     3
    130     (199)     1,255     1,186
Real estate   67     9     (183)     (107)
Private markets   39     (1)     (45)     (7)
Foreign exchange forward contracts   -     127     (14)     113
    443     (54)     1,072     1,461
Investment expenses
Investment manager fees                     (53)
Custodial fees                     (2)
Transaction fees                     (7)
Other investment expenses                     (51)
                      (113)
NET INVESTMENT INCOME                   $ 1,348