IMCO launches inaugural asset pool with PSPP assets under management
We are pleased to announce the launch of the first structured pool of assets under the Investment Management Corporation of Ontario (IMCO), which began management of the PSPP’s assets in July 2017. This achievement is a key development in ensuring the long-term sustainability of the Plan.
The IMCO Canadian Public Equity Limited Partnership, with approximately $3.5 billion (CAD) in assets, provides OPB and other IMCO clients including the Workplace Safety and Insurance Board (WSIB) and the Provincial Judges Pension Board (PBPB), with demonstratable operational efficiencies and economies of scale that each client would not be able to achieve investing on their own. The launch represents a significant milestone in advancing IMCO’s mandate of providing public sector institutions with access to world-class, multi-strategy investment management services in a cost-effective manner.
Chris Kautzky, OPB’s Chief Investment Officer added “We congratulate IMCO for achieving this important milestone and look forward to the expected launch of further public market pools in the coming months, followed by IMCO’s first private markets pools.”
With this asset pool, OPB will continue to own the assets of, and maintain its fiduciary responsibility for, the Plan. Asset pooling will boost our net investment returns and will contribute to the funded status of the Plan over the years to come.