CANADA - The Healthcare of Ontario Pension Plan (HOOPP) has finalised the implementation of an asset liability management (ALM) solution provided by Ortec.
The Dutch technology and advisory services provider was selected in April 2009 to develop a tailor-made system modeling the specific requirements of the pension plan as well as Canada's pension legislation.
HOOPP chief investment officer Jim Keohane said: "The development of an in-house ALM system gives us a valuable resource in identifying and analysing a range of risk factors and outcomes, and means we are better positioned to address future challenges."
The fund posted a 15.2% profit for 2009 on the back of gains in North American equities, according to its 2009 annual report (Global Pensions, April 13, 2010).
This result offset the losses of 12% the fund incurred the previous year and brought its funding level to 102% from 98% at the end of 2008.
HOOPP uses a liability driven investing approach, according to which it calculated it has to achieve a nominal return of at least 6.5% - or a real rate of return of 4.2% - to meet its estimated pension obligations.
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