Vestcor Inc. has once again surpassed the long-term investment objectives of its clients, providing asset protection throughout a particularly challenging year in the financial markets.
Vestcor Inc. has once again surpassed the long-term investment objectives of its clients, providing asset protection throughout a particularly challenging year in the financial markets.
The New Brunswick investment manager and pension and employee benefits administration service solutions for over 100,000 pension plan and benefit program members and more than 140 employer groups in the province achieved an overall return of -3.63% in 2022. The median gross returns of Canadian defined benefit pension plans were -10.3% for the same period reported by RBC Investor & Treasury Services (RBCITS). Its four-year gross annualized return was 5.99%, outperforming the RBCITS’ four-year median return of 5.32%.
Its active management activities outperformed the client-set benchmarks by 2.63% during the year, which translates into an additional value of $538 million for clients and contributed $1 billion in investment earnings over the past four years.
