Copyright_marchmeena_123RF

The Investment Management Corp. of Ontario is reporting a weighted average net return of 9.9 per cent as at Dec. 31, 2024.

At the end of the year, the investment organization’s net assets under management grew to $86 billion, compared to $77.4 billion at the end of 2023. The IMCO’s annualized long-term results were 4.2 per cent over a five-year period.

Read: IMCO returns 5.6% for 2023, driven by public equities

Public equities delivered a 24.2 per cent return for the IMCO in 2024, followed by private equities (16.4 per cent), global credit (8.1 per cent), global infrastructure (eight per cent) and public market alternatives (6.2 per cent). The IMCO also reported a flat return from its fixed income assets while real estate returned negative 0.8 per cent.

Geographically, more than half (52 per cent) of the IMCO’s assets under management are located in the U.S., followed by Canada (29 per cent), Europe (11 per cent), Asia-Pacific (six per cent) and other regions (two per cent).

“While we don’t measure success based solely on one-year returns, we are pleased with our 2024 results,” said Bert Clark, president and chief executive officer at the IMCO, in a press release. “They reflect the strength of our disciplined, long-term approach to investing.”

Read: IMCO increasing investments in clean energy transition assets: report