Ontario's Muncipal Employee's Retirement System posted a 6.2% rate of return for 2000 - a drop of nine points on the previous year, according to its annual report.
OMERS saw its assets increase to C$35.9bn ($16bn). But the rate of return compared sharply to 1999’s figure of 15.2%. According to the report, this retun was affected by a 8.2% loss in the foreign equities portfolio.
According to Dale Richmond, OMERS president and chief executive, the results were still positive: For a pension plan like us, it's long-term performance that counts. We have an outstanding long-term track record. OMERS has earned a 10-year return of 12.2%, almost twice the long-term rate we need to pay future pensions. Our members and pensioners can feel secure.
OMERS is one of the largest pension plans in Canada, with C$36 billion in assets. The jointly managed board oversees pension services for the more than 1,000 local government employers in Ontario and almost 300,000 active and retired members who participate in the plan.
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