Ontario Teachers' Pension Plan, Toronto, returned a net 11.1% in 2021, bringing its total assets to C$241.6 billion ($189 billion) as of Dec. 31.
The plan well exceeded its benchmark return of 8.8%, a news release said Monday.
For the five and 10 years ended Dec. 31, the pension fund returned an annualized net 8.4% and 9.3%, respectively. Benchmarks for those periods were not provided.
For the year ended Dec. 31, 2020, the pension fund returned a net 8.6%.
By asset class, the pension fund's innovation asset class had the highest return for the year ended Dec. 31 at a net 39% (benchmark not yet available); private equity was next at a net 29% (above its 17.5% benchmark); natural resources returned a net 28.1% (24.1% benchmark); public equities, 9% (13.1%); inflation hedge, 8% (8%); commodities, 7.9% (7.9%); infrastructure, also 7.9% (1.2%); credit, 3.5% (1.2%); real estate, 2.5% (8.8%); and fixed income, -6.3% (-6.3%).
As of Dec. 31, the pension fund's actual allocation was 23% private equity; 19% fixed income; 11% each commodities, infrastructure, public equities and real estate; 10% credit; 6% absolute-return strategies; 5% inflation hedge; 4% natural resources; 3% innovation and -14% funding for investments.
Funding for investments includes "term debt, bond repurchase agreements, implied funding from derivatives, unsecured funding and liquidity reserves," according to the news release.
