Ontario pension fund manager OMERS earned 4.4% return for first half of 2024
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Hey there, time traveller!
This article was published 15/08/2024 (422 days ago), so information in it may no longer be current.
TORONTO – OMERS says it earned a net investment return of 4.4 per cent for the first six months of this year, helped by the performance of its investments in public equities and strong contributions from its holdings in private credit and infrastructure.
OMERS chief executive Blake Hutcheson says the fund had a good start to the year, reflecting the strength and diversification of the portfolio and a strategic decision to maintain currency exposure to the U.S. dollar.
OMERS earned a 10.4 per cent return on its public equity investments for the first six months of the year, while its public credit holdings earned 2.2 per cent.
The fund’s private equity investments earned 3.9 per cent and private credit returned 7.8 per cent, while its infrastructure investments earned 4.1 per cent.
OMERS says valuation losses hurt its real estate investments which lost 3.1 per cent for the period, while its holdings in government bonds fell 0.5 per cent as rising yields decreased their fair value.
Net assets of the fund totalled $133.6 billion at June 30.
This report by The Canadian Press was first published Aug. 15, 2024.