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The Healthcare of Ontario Pension Plan is a C$112.6 billion ($83.23 billion) pension fund serving 460,000 active, deferred and retired health care workers. announced on Wednesday The company announced that its investments returned 9.8% in 2023, up from C$103.7 billion year over year.
The plan also announced that its funding status reached 115% at the end of 2023. Like many other Canadian plans, the HOOPP system has surplus pension funds.
“Several factors created considerable economic uncertainty in 2023, including heightened geopolitical tensions, sustained inflationary pressures, and unstable global economic growth,” said HOOPP President and Chief Executive Officer CEO Jeff Wendling said in a press release. “Amidst this volatility, HOOPP delivered significant benefits that underpin our pension promise to Ontario’s health-care workers.”
Wendling added that HOOPP is focused on overseeing a portfolio that can deliver on its goals and promises.
“Last year’s market volatility provided an opportunity to increase exposure to real-yield bonds at attractive valuations, protecting the fund from inflation and creating value for the plan,” Wendling said.
return on investment
Within HOOPP’s portfolio, private equity and public equity performed best. In 2023, public equity returned 15.71% and private equity returned 15.90%.
The only asset class in the portfolio with negative returns was real estate, down 6.50% over the year.
Returns for all other asset classes are:
- Private credit – 9.33%
- Infrastructure – 8.17%
- Credit – 4.55%
- Bonds – 4.28%
Geographically, 55% of HOOPP investments are in Canada, 24% in the United States, 12% in Europe, 7% in Asia Pacific, and 2% in other regions.
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Tags: Canada, stocks, Ontario Health Pension Plan, HOOPP, Jeff Wendling, pensions, private equity, public pensions, real estate
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