The British Columbia Investment Management Corporation (bcIMC) has posted an annual combined pension return, net of costs, of 14.2% for the 2015 fiscal year.
The returns were driven by real estate, public equity markets and particularly strong performance in global stocks, including in emerging markets.
BcIMC’s decision in 2014 to overweight exposure to global equities and reduce allocations to fixed income and mortgages contributed to the returns.
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“To put this into perspective, we returned 8.1% (annualized) against a10-year combined benchmark of 7.3%.That translates into $6.9 billion in additional value to our public sector pension
clients,” says Gordon Fyfe, bcIMC’s CEO.
In fiscal 2015, the institutional investor increased its managed net assets to $123.6 billion, up by $13.2 billion from the previous year.