OPTrust, which manages the assets of the Ontario Public Service Employees Union Pension Plan, Toronto, returned 8% on its investments in 2015, above its 5.4% custom benchmark return, according to its annual report released Monday.
Investment income for the year totaled C$240 million ($173 million), helping increase OPTrust's total assets as of Dec. 31 to C$18.4 billion, up 5.1% over 12 months earlier.
OPTrust returned 12% in 2014.
The top-performing asset class in 2015 was developed markets equity, at 20.2%; followed by private equity, 14.4%; real estate, 7.3%; and infrastructure, 7%. Emerging markets equity returned 6.3%; nominal bonds, 3.4%; and real return bonds, 2.7%.
Canadian equity had the lowest return, at -3.7%.
The plan's asset allocation as of Dec. 31 was 26% nominal bonds, 16.5% developed markets equity, 15.5% real estate, 12.8% infrastructure, 9.2% private equity, 7.6% emerging markets equity, 6.8% Canadian equity, 3.2% cash and 2.4% real return bonds.
OPTrust's discount rate as of Dec. 31 was 3.55%, down from 3.85% in 2014.
The full annual report is on OPTrust's website.
