IMCO Returned 9.9% in 2024

The Ontario investor’s assets grew to $62 billion at the end of the year.



The Investment Management Corp. of Ontario, an entity that manages assets for public sector clients in Ontario,
announced Wednesday that the fund returned 9.9% in 2024.

The institutional investor’s assets under management grew to C$86 billion ($62 billion), up from C$77.4 billion at the end of 2023.

The fund’s returns were primarily driven by public and private equity, with the two asset classes returning 24.2% and 16.4%, respectively. Fixed income, the asset class with the largest allocation at IMCO, was flat for the year. 

Global credit returned 8.1% during the year, and global infrastructure returned 8%. Real estate was the fund’s only asset class reporting a loss, falling 0.8% in 2024. 

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“We believe that helping our clients select the optimal asset mix, while avoiding market timing, big bets and unnecessary complexity, and pursuing outperformance in a very targeted way, positions us to effectively navigate an uncertain environment for our clients,” said Rossitsa Stoyanova, IMCO’s CIO, in a statement.

IMCO allocates 24% of its assets to fixed income, 23% to public equities, 14% to real estate, 13% to infrastructure, 11% to private equity, 10% to global credit, 3% to money markets and “other,” and 2% to public market alternatives. 

“While we don’t measure success based solely on one-year returns, we are pleased with our 2024 results. They reflect the strength of our disciplined, long-term approach to investing,” said Bert Clark, IMCO’s president and CEO, in a statement. “We avoid unnecessary complexity and focus on building well-diversified, cost-effective portfolios for our clients, with strong liquidity management.”

Related Stories:

Canadian Pension IMCO Loses 8.1% in 2022

AIMCo Achieves 12.3% Return in 2024

Ontario Teachers’ Nets 9.4% Return, Assets Grow to $185.5B

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