Ontario Public Service Pension Plan returns 12.5% in 2013

Ontario Public Service Pension Plan, Toronto, returned 12.5% on its investments in 2013, vs. 11.9% a year earlier, according to the Ontario Pension Board, which administers the C$21 billion (US$18.8 billion) pension fund.

The pension fund's return was 3.1 percentage points above its custom benchmark, said Stephanie Woodward, OPB director, stakeholder relations. Investment income for 2013 totaled C$2.24 billion.

The pension fund was 96% funded as of Dec. 31, up from 94% 12 months earlier. The improved funded status was chiefly because of investment returns, Ms. Woodward said.

The pension fund's returns by asset class and its current allocation will be released once OPB's annual report is submitted to the Ontario Legislature later this year.

According to OPB's website, its asset allocation as of Dec. 31, 2012, was 26.3% Canada fixed income, 23.4% international ex-U.S. equities, 14.6% real estate, 13.6% U.S. equities, 6.6% Canadaequities, 6.3% cash, 4.6% Ontario debt, 3.2% international fixed income, 0.9% infrastructure and 0.5% private equity.