British Columbia Investment Management Corporation (bcIMC) has reported an annual return of 14.7% for the year ended March 31, 2014.
Gross assets under management rose to $114 billion.
An overweighting in global equities and and an underweighting in fixed income were the main drivers of the double-digit returns, says Doug Pearce, bcIMC’s CEO and chief investment officer.
He added that solid performance in Canadian equities, infrastructure and renewable resources, as well as global real estate, also contributed to this year’s strong returns above their respective benchmarks.
bcIMC’s portfolio includes six major asset classes: public equities (47.6% or $54.2 billion), fixed income (22% or $25.1 billion), real estate (17.4% or $19.8 billion), renewable resources and infrastructure (5.6% or $6.4 billion), private placements (4.8% or $5.5 billion) and mortgages (2.6% or $3 billion).
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