The Healthcare of Ontario Pension Plan (HOOPP) posted returns of 17.1% in 2012, boosting the pension plan for the province’s healthcare workers to a record $47.4 billion in assets, up from $40.3 billion in 2011. At the end of 2012, HOOPP was 104% funded, meaning the plan has sufficient assets to pay for every member’s […]
Any pooling of Ontario public sector pension assets must be carried out in a carefully planned manner if members are to realize benefits from such an arrangement, according to a statement from the College and University Retiree Associations of Canada/Associations de retraités des universités et collèges du Canada [CURAC/ARUCC].
Jim Keohane, president of the Healthcare Ontario Pension Plan (HOOPP), is credited with reducing the organization’s investment risks, which helped the plan weather the financial downturn and come out well ahead of the market by 2009. In this Q&A, Keohane discusses his investment strategy and its application to HOOPP.
The Healthcare of Ontario Pension Plan (HOOPP) is like the ant in Aesop’s fable “The Ant and the Grasshopper.” While others were enjoying market returns, HOOPP was preparing for the future. After years of strong financial markets, HOOPP’s investment team, led by Jim Keohane, decided to pull $6 billion out of equities to prepare for a potential market downturn. When shortly after that move in 2007 the figurative winter hit, HOOPP was one of the few pension plans to report positive results for the two-year period of 2008/09. The plan’s 15.2% return in 2009 more than offset the 12.0% loss of 2008. Many other plans were left out in the cold—much like Aesop’s grasshopper.
Ontario also downsizes proposed super fund.
Ontario finance minister Dwight Duncan publically announced yesterday that the province and The Healthcare of Ontario Pension Plan (HOOPP), The Ontario Public Service Employees Union (OPSEU) pension plan and The Colleges of Applied Arts and Technology (CAAT) pension plans have reached a deal that will keep the funds separate from any proposed superfund but also freeze employer contributions for five years.
Insights from the 2012 Real Estate Summit.
The investment arm of the Healthcare of Ontario Pension Plan (HOOPP) has made a new investment in the now largest fund owned by growth equity firm Catalyst Investors.
The Healthcare of Ontario Pension Plan (HOOPP) has named the 10 greenest office buildings in its portfolio.
The Healthcare of Ontario Pension Plan (HOOPP) is introducing an awards program to honour property managers who show leadership in environmental performance, including greenhouse gas emissions, water and waste management.