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OMERS Achieves 11.5% Return in 2017, Now 94% Funded

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The Ontario Municipal Employees’ Retirement System (OMERS) reported a net investment return after expenses of 11.5% for 2017, compared to a benchmark of 7.3%. This is the second year in a row of double-digit returns for the Canadian pension plan after net returns of 10.3% in 2016. Michael Latimer, president and chief executive the pension institutional investor, attributed the performance to a strong showing from all its major asset classes and an improvement in its funded status for five years running to 94%.

“Double-digit returns for two years in a row have allowed us to reduce the discount rate on our pension obligations by a further 20 basis points in 2017,” said Jonathan Simmons, Chief Financial Officer at OMERS. Nearly 150,000 retired teachers received some US$ 3.2 billion in monthly pension from OMERS in 2017.

OMERS plans on releasing its annual report for 2017 in early March.

JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BlackRock and Microsoft Eye Opportunities in Retirement Space

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By getting closer to the consumer via mobile apps, New York-based BlackRock Inc. is keen on gaining market share in the U.S. retail retirement market space. BlackRock had acquired FutureAdvisor, a technology platform, while making a large investment in Envestnet. BlackRock is now partnering with Microsoft Corporation to explore creating a retirement platform.

This partnership could be developing a new platform to analyze savings and investing habits – then offering app services as lead-generation services. According to a corporate news release, BlackRock plans to offer on the platform its “investment products that it will design and manage.”

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Ireland Strategic Investment Fund Involved in Urbeo Platform

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Dublin-based Urbeo Residential was founded in 20217 by Bill Nowlan, the founder of Hibernia REIT. Starwood Capital Group is an investment firm headquartered in Greenwich, Connecticut. Starwood Capital formed a €1 billion Irish build-to-rent (BTR) platform with Urbeo Residential and the Ireland Strategic Investment Fund (ISIF). Starwood Capital is investing capital, through Starwood Global Opportunity Fund XI, into Urbeo – the name of the BTR platform. This platform will acquire rental units in Dublin and other major Irish cities.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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