The Ontario Teachers’ Pension Plan Board earned a return of 9.4% for 2024, helped by returns across its public equity, venture growth, credit and inflation-sensitive assets.
The result was up from a return of 1.9% in 2023, but the fund fell short of its benchmark return of 12.9%.
The pension fund manager says the underperformance relative to its benchmark was primarily due to its investments in private equity and real estate falling short of their respective benchmarks.
The fund’s net assets totalled $266.3 billion at Dec. 31, 2024, up from $247.5 billion in 2023.
Ontario Teachers’ chief executive Jo Taylor says the fund’s investment portfolio is well placed to deliver strong risk-adjusted returns for the plan in 2025 and meet its long-term obligations.
The fund says the pension plan was fully funded at Jan. 1, with a $29.1-billion preliminary funding surplus.
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