Canada. IMCO returns 9.6% in 2021, outperforming its benchmark
Investment Management Corp. of Ontario, Toronto, delivered a weighted average net return of its clients’ portfolios of 9.6% for the year ended Dec. 31, vs. a consolidated benchmark return of 8.5%.
IMCO’s assets under management climbed to C$79 billion ($61.8 billion) at the end of 2021, up 7.8% from a year earlier, the firm said in a news release Monday.
By asset class, private equity performed the best in 2021, returning a net 19.2% (above the 16.9% performance by its benchmark); followed by public equities, which returned 16.3% (above the benchmark’s 15.6%); real estate, 13% (4.2%); and global infrastructure, 12.3% (21.7%).
Public market alternatives and global credit delivered modest net returns of 3.1% and 2.9%, respectively, for the year, but still bested their respective benchmark returns of zero and 1.4%, the news release added.
The only asset class to slip into the red, fixed income, returned a net -1.8% in 2021, but still slightly outperformed its benchmark return of -1.9%.
IMCO’s asset allocation as of Dec. 31 was 34.3% public equities; 22.4% fixed income; 12.5% real estate; 8.2% global infrastructure; 7.8% global credit; 6.4% public market alternatives; 6% private equity; and the rest in money markets and other assets, based on figures in the news release.
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