Ontario Teachers’ said it had an annual rate of return of 13% last year as confidence returned to financial markets, and reported $10.8 billion in investment earnings.
“We spent 2009 taking care of the business of the plan during the tail end of the financial market crash, while taking advantage of the market turmoil to make some investments that are already starting to pay off, and fortifying the plan for the future,” said CEO Jim Leech.
In 2008, Ontario Teachers’ suffered an 18% investment loss as equity and other holdings were slammed by the global financial crisis.
Leech said that the rebound last year came as confidence returned to markets, but he added that it did not reflect true economic growth.
“We should not expect this kind of market growth going forward,” he said. “In 2008 and continuing into the first quarter of 2009, we saw a crisis of confidence among investors. It caused market mayhem.”
He added that the pension system expects it will still be some time until true economic growth takes hold. —Pav Jordan, Reuters
Oregon nears top of target range with pledges
Oregon Investment Council’s actual allocation to private equity is 19%, said a spokesperson, which is above its 16% target, and close to the high end of its target range of 12% to 20 percent.
The state investment council made three pledges of $100 million each. One went to the second fund of
A second outlay went to U.K.-based
Oregon Investment Council also pledged $40 million to