The British Columbia Investment Management Corp. (bcIMC) produced a 9.5% return for the year ending March 31, 2013, due to strong results from its public equities and real estate portfolio.
The return beat its market benchmark of 7.8%.
In 2011, bcIMC began significantly increasing asset allocations to infrastructure and real estate. This heavier weighting to real assets is beginning to drive investment returns, says CEO and chief investment officer Doug Pearce.
“I am also pleased with the investment returns for the 10-year period, he adds. “bcIMC delivered an annualized return of 8.2% against a combined benchmark of 7.8%.”
As of year-end, bcIMC had more than $100 billion in gross assets under management. The portfolio includes six major asset classes: public equities (46.6%), fixed income (22.9%), real estate (17.3%), renewable resources and infrastructure (5.3%), private placements (4.5%) and mortgages (3.4%).
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