Ontario Municipal Employees' Retirement System, Toronto, reported a net return of 11.9% on its investments in 2019, outperforming its custom benchmark's 7.5% return, a spokesman said Monday.
In 2018, OMERS returned a net of 2.3%, which was below its benchmark's 7.3% return for that year.
OMERS also was shy of 2019's 14% median return of Canadian pension plans surveyed by RBC Investor & Treasury Services.
The pension fund reported net assets of C$109 billion ($83.4 billion) as of Dec. 31, up from C$97 billion a year earlier, said a news release from OMERS on Monday.
The highest performing asset class in OMERS' portfolio was public equity, which returned a net 20.3% last year, followed by infrastructure, 8.7%; real estate, 8.3%; and credit 8%. Government bonds had the lowest return at a net 1.2% for the year ended Dec. 31.
OMERS' asset allocation as of Dec. 31 was 29% public equity, 19% infrastructure, 17% credit, 16% real estate, 14% private equity, 3% government bonds and 2% allocated to inflation-linked bonds.
The portfolio had a net annualized return of 8.5% for the three years and five years ended Dec. 31, according to the news release. Over the 10 years ended Dec. 31, the portfolio had a net annualized return of 8.2%.
