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  2. PENSION FUNDS
March 31, 2021 09:00 AM

HOOPP returns 11.4% in 2020

Rob Kozlowski
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    Jeff Wendling

    Jeff Wendling, HOOPP president and CEO

    Healthcare of Ontario Pension Plan, Toronto, returned a net 11.4% on its investments in 2020, with the plan's assets reaching C$104 billion ($81.4 billion) as of Dec. 31, the plan announced in a news release Wednesday.

    HOOPP's funding ratio was 119% at the end of the year, the same as the previous year. The net return was lower than the previous year's net return of 17.1%.

    Plan assets were up 10.5% from a year earlier when the plan had C$94.1 billion in assets.

    For the 10 years ended Dec. 31, the pension plan returned an annualized net 11.2%.

    "HOOPP is very pleased to have delivered strong results for our members in the Ontario health-care sector, and to have done so during what remains an extremely challenging time for them," said Jeff Wendling, HOOPP's president and CEO, in the news release. "It is a privilege to be the pension plan for health-care heroes, and our top priority is to ensure their pension remains safe and secure."

    Individual asset class returns and asset allocation information as of Dec. 31 were not provided.

    The fund's annual report is posted on its website.

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