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OMERS returns bolstered by private equity

The Canadian pension saw a $7 billion increase in 2014

The Ontario Municipal Employees Retirement System, posted a 10 percent net return for the year bolstered by private equity, according to a recently released annual report.

The returns exceed the long-term funding requirement of 6.5 percent and the prior year return of 6 percent.

The private equity portion of the portfolio posted a 14.4 percent net rate of return, accounting for some $6.7 billion of the assets in the portfolio.

Public investments returned 10.7 percent helped by strong bond prices.

Total assets have reached $72 billion, a $7 billion increase over 2013. The increase brings the pension to just over 90 percent funded.

“We continue to build a portfolio of high-quality public and private investments, diversified by asset class, sector and geography,” said Michael Latimer, OMERS president and CEO.