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Vestcor Corp. is reporting a 7.5 per cent return for 2023, despite the challenges of rising inflation and high interest rates.

The New Brunswick-based investment organization achieved five- and 10-year annualized returns of 6.27 per cent and 6.73 per cent, respectively. In a press release, Vestcor noted these returns ensure its clients continue meeting their funding objectives, even through the period of higher inflation indexing requirements of the past few years.

Read: Vestcor appointing Sean Hewitt as president, CEO

“We are pleased that Vestcor continues to assist our clients with meeting their long-term objectives during an uncertain and variable period in both global financial markets and our operating environment” said John A. Sinclair, president and chief executive officer at Vector, in the release. “Our lower risk approach should continue to help our client’s meet their long-term objectives on behalf of their members.”

The investment organization also recently released its second annual responsible investment report, which found carbon emissions of Vestcor’s overall investment portfolio had declined by roughly 10 per cent in 2023. The report also noted the investment organization has expanded its carbon emissions measurement coverage to a much larger proportion of assets under management.

Read: Vestcor reduced carbon exposure in investment portfolios in 2022