Ontario Municipal Employees Retirement System, Toronto, returned 12% on its investments in 2010, confirmed spokesman John Pierce.
The system’s net assets increased to C$53.3 billion (US$54.8 billion) for the year, up 11.5% from 12 months earlier.
The plan had a funding deficit of C$4.5 billion at the end of 2010. The plan needs an annual investment return of 6.5% to balance assets with liabilities, according to a news release.
“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,” OMERS CFO Patrick Crowley said in the release. “Doing so would return the plan to surplus between 2015 and 2020 — five years ahead of schedule.”