OPTrust, Toronto, achieved an investment return of 1% for the total fund in 2018, according to its 2018 Funded Status Report.
OPTrust, which manages the assets of the C$20 billion ($15 billion) Ontario Public Service Employees Pension Plan, Toronto, lowered its discount rate to 3.15%, net of inflation, from 3.3% in 2017.
The plan remained fully funded in 2018 on a regulatory filing basis, "while actuarial assumptions continued to be strengthened to enhance long-term funding health," the report said.
"OPTrust's objective is to maintain the funded status of the plan without taking excessive risk," said Doug Michael, interim president and CEO of OPTrust in a news release. "In the worst year for markets since the global financial crisis, we maintained our fully funded status for the 10th consecutive year and increased the long-term stability of the plan by lowering our discount rate."
Separately, the fund also recently announced that Hugh O'Reilly resigned as president and CEO of OPTrust, effective Monday, to pursue other interests.