TORONTO – Pension fund manager OMERS says it earned a return of 8.3 per cent in 2024, net of expenses.
The fund says the result topped its 7.5 per cent benchmark for the year.
Its net assets totalled $138.2 billion at Dec. 31, 2024, up from $128.6 billion at the end of 2023.
Jonathan Simmons, OMERS chief financial and strategy officer, says the fund’s public equity investments delivered double-digit performance supported by strong contributions from its investments in private credit and infrastructure.
Simmons noted the fund’s real estate assets continue to generate strong operating income, but returns were held back due to lower valuations.
OMERS manages the defined-benefit pension fund for union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario.
This report by The Canadian Press was first published Feb. 24, 2025.
