Ontario Teachers earned 1.9% net return for first half of 2023

The Ontario Teachers’ Pension Plan Board says it earned a net return of 1.9 per cent for the first six months of the year.

The pension fund’s total net assets stood at $249.8 billion at June 30, up from $247.2 billion at Dec. 31, 2022.

Chief investment officer Ziad Hindo says the fund saw positive returns across multiple asset classes including public and private equities, infrastructure, and credit over the first six months of the year.

The growth came as the fund earned a 12-month total-fund net return of 4.8 per cent.

Ontario Teachers says its five- and 10-year annualized net returns were 7.0 per cent and 8.6 per cent, respectively.

The pension fund, which invests to pay for the retirement for 336,000 working members and pensioners, noted that as of Jan. 1 the plan was fully funded with a $17.5-billion funding surplus.

2:18 Ontario elementary school teachers to hold strike vote