The Ontario Municipal Employees Retirement System (OMERS) increased its exposure to infrastructure in 2019, according to a report disclosing the pension fund’s net returns for the year. The asset class occupied 19 percent of the asset mix, up from 18 percent in 2018.
OMERS saw a decrease in net returns for infrastructure in 2019 with a return of 8.7 percent, down from 10.6 percent the previous year.
For the entire year, OMERS reported a 2019 investment return of 11.9 percent, exceeding the previous year’s net return of 2.3 percent, which was affected by more challenging stock market conditions.
Earlier this year, OMERS’ CEO, Michael Latimer, announced his impending retirement after 20 years with the pension fund. He spent the past six years as CEO and will retire at the end of May. Blake Hutcheson has been appointed as his successor, effective June 1.
