July 21st, 2024

B.C. Investment Management earned 7.5% annual combined pension plan return

By The Canadian Press on June 27, 2024.

VICTORIA – British Columbia Investment Management Corp. says it earned an annual combined pension plan return of 7.5 per cent for its latest year.

However, the result fell short of BCI’s benchmark which was boosted by the strength of the largest tech stocks and posted an annual return of 11.6 per cent.

BCI chief executive Gordon Fyfe said the fund delivered “solid absolute results even through challenged markets this year.”

The fund said all of its asset classes generated positive returns except its real estate equity investments which faced sustained market headwinds.

The combined pension plan return represents the performance of BCI’s six largest pension clients by assets under management.

BCI had $250.4 billion in gross assets under management as of March 31.

This report by The Canadian Press was first published June 27, 2024.

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