Healthcare of Ontario Pension Plan (HOOPP) showed a rate return on its investments of 8.6% in 2013, as well as a 10-year annualized return of 9.7%, according to its annual report. Both performance indicators exceeded benchmarks established by the Toronto-based pension plan.
HOOPP’s net investment income totaled just over $4 billion last year. This resulted in an expansion of its net assets under management to $51.6 billion.
HOOPP’s private equity investment arm, HOOPP Capital Partners (HCP), which make commitments to funds and invests directly in privately held businesses, generated a currency-hedged return of 19.6% in 2013, also exceeding its benchmark. On an unhedged basis, the private equity portfolio returned 26.8%.
At the end of December, HCP had $2.6 billion invested in total, with a further $2.6 billion committed to private funds and direct investee companies.
The pension plan’s real estate portfolio also generated a return of 14% in 2013, a continuation of several years of strong performance.
HOOPP oversees retirement funds for over 286,000 healthcare workers.
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