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Pension Funds

Ontario Municipal reports 11.5% return for 2017

Ontario Municipal Employees' Retirement System, Toronto, returned a net 11.5% on its investments in 2017, the pension fund announced Friday.

The return topped OMERS' 7.3% custom benchmark return and the net 10.3% its portfolio returned in 2016, according to a news release.

The median return of Canadian pension plans surveyed by RBC Investor & Treasury Services in 2017 was 9.7%.

Net assets were C$95 billion ($75.7 billion) as of Dec. 31, up 11.5% from 12 months earlier. OMERS' funded status at year-end 2017 was 94%, vs. 93.4% at the end of 2016.

Ontario Municipal's public equity portfolio was its highest performer in 2017, at 14.7%, followed by infrastructure at 12.3%; real estate, 11.4%; private equity, 11.1%; and fixed income, 4.3%.

OMERS' asset allocation as of Dec. 31 was 34% public equity, 29% fixed income, 16% infrastructure, 14% real estate and the remainder in private equity. At the end of 2016, the allocation was 34% fixed income, 28% public equity, 17% infrastructure, 15% real estate and the remainder in private equity.

Further details of OMERS' 2017 performance will be disclosed in its annual report, to be released in March.