OMERS posts 6.5% return, stands by ‘risk-balanced’ strategy

2014-03-10T23:56:32-07:00February 24th, 2014|Categories: Defined Benefit Plans|Tags: , , |

Ontario’s giant municipal pension fund manager said it earned a 6.5-percent return in 2013 despite seeing its bond portfolio hit hard by higher interest rates after the fund implemented a new investment strategy that lost money last year. The Ontario Municipal Employees Retirement System (OMERS) said its underfunded status improved last year, but the pension manager still has a $8.6-billion deficit, which will probably not be erased until some point between 2021 and 2025 depending on investment returns. OMERS [...]