Ontario Teachers' Pension Plan, Toronto, returned a net 6.3% on its investments for the first six months of 2019, bringing its total assets to C$201.4 billion ($153.8 billion) as of June 30, the plan said in a news release Wednesday.
Pension fund assets rose 5.4% from start of 2018. In the first half of 2017, the plan returned a net 3.2%.
The pension fund earned C$12.1 billion from its investments in the first half of this year and took in a combined C$1.7 billion from employer and employee contributions, according to OTPP's financial statements.
Ontario Teachers' discount rate was 2.5% as of June 30, down from 3.2% on Dec. 31.
As of June 30, the pension fund's actual allocation was 47% fixed income, 17% each private equity and public equities, 16% inflation-sensitive investments, 14% real estate, 9% infrastructure, 8% credit and 6% absolute-return strategies. The plan had an additional 34% used for liquidity purposes.
"In the first half of the year, we had positive performance across every asset class in our portfolio, led by fixed income" said Ziad Hindo, chief investment officer, in the news release. "Over the last few years, we have been transitioning the asset mix to a more balanced approach from a risk perspective, and as part of this transition, we increased our allocation to the fixed-income asset class."