Investment manager

2022 marks a successful year for BC public sector pension investment manager

It was a big year for the British Columbia Investment Management Corporation (BCI). The Victoria-based investment firm is the investment manager for many of British Columbia’s public sector pension plans, as well as insurance funds that provide more than three million Autoplan insurance policies each year and a benefits coverage to more than two million workers and 225,000 businesses, and also public trusts and endowments.

BCI reached 7.4 percent annual return on investment on behalf of the British Columbia Public Sector Pension Plans for the one-year period ending March 31, 2022. BCI’s active in-house global investment strategies added $11.5 billion to net assets Under Management (AUM), bringing BCI’s total AUM to $211.1 billion, making it one of the largest institutional investors in Canada.

Annual return outperformed combined market benchmark by 4.6%, and 2.8% outperformance from BCI’s investment activities equates to $4.4 billion created for pension clients from BCI, helping to strengthen the financial position of plans with nearly three-quarters of a million members in British Columbia

Longer term, over a 10-year period, BCI generated a 10-year annualized return of 9.1%, compared to a combined market benchmark of 8.0% for its pension plan clients. Exceeding the benchmark by 1.1% over that period equates to $13.2 billion in value generated, notes Ramy Rayes, senior vice president, investment strategy and risk at BCI. “If you look at our results another way, BCI’s high rate of return over the past decade means that for every $100 a pension plan member has received in pension , $75 on average was created and provided by BCI’s ongoing strategic investment. activity.”

Its investment success earned BCI the Canadian Investment Review 2021 Pension Leadership Award for Sustainable Investing, the 2021 Responsible Investment Association Leadership Award for Integration, and earned a top spot in the 2021 Leaders List of 30 Dispatchers. most responsible assets of the Responsible Asset Allocator Initiative. BCI also earned a 10th place in Infrastructure Investor’s 2021 Global Investor 50 ranking – a list of the largest institutional investors in global infrastructure.

The results of successful planning

BCI’s well-diversified portfolios and sophisticated investment strategies help protect clients’ capital despite unpredictable market turbulence – impacts that currently range from the ongoing COVID-19 pandemic to the invasion of Ukraine by Russia. These same strategies will continue to serve clients well in the current global inflation environment.

“Planning ahead is imperative,” says Rayes. Although you never know what specific events can influence global markets, “you need to have a process in place to be agile when they happen. Having both the people and the plan means being able to deliver that long-term success to our customers.

Striving to further expand its ability to seize global investment opportunities, BCI recently opened an office in New York for its private equity program, and an office in London, UK, designed to support investments in infrastructure and renewable resources, will open by the end of the year.

Focus on talent

A key factor in BCI’s growth is its recognition that people are critical to the success of the business.

That’s why, in addition to the investment accolades, they’re equally proud to be named one of BC’s Top Employers, one of Canada’s Top 100 Employers, and one of the Pro Employers. -family of Canada for the third consecutive year, underlines Rayes.

As the company has grown to more than 600 employees from approximately 200 in 2016, BCI recognizes that attracting talented people is not always easy. Thus, beyond rewarding careers, she has endeavored to create a welcoming environment, diverse culture which also recognizes the place of society in the community.

Along with the company’s support of initiatives such as United Way Southern Vancouver Island, Junior Achievement of BC literacy programs which have been offered to 2,600 BC students, BCI recently doubled the volunteer time of its staff — now employees get two paid days off a year to volunteer in the community with an organization of their choice, Rayes notes.

And, recognizing the need to continue investing in the future, BCI has established a strong student co-op and internship program that provides students at post-secondary institutions across Canada with rewarding work experiences – an essential investment. in its next generation of investments and internships. business professionals.

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BCI has developed a strong student co-op and internship program that provides rewarding work experience – an essential investment in its next generation of investment professionals. Photo by Derek Ford