In May 2012, the Ontario government began studying a new approach for managing the investments of Ontario's broader public-sector pension plans and other non-pension investment funds. An independent review was launched to examine the advantages of pooled asset management and how this model might be implemented.
In November 2012, following extensive consultations across industry stakeholders, a comprehensive report was released that would ultimately recommend a new investment model for public-sector pensions and investment funds, with assets of a specific threshold, in Ontario.
Creating a Pooled Asset Manager in Ontario
The report, Facilitating Pooled Asset Management for Ontario's Public-Sector Institutions, set out foundations for a new pooled asset manager. The Investment Management Corporation of Ontario (IMCO) would be created as an independent entity and would be implemented under the following principles:
To the extent that these advantages supported more diversified portfolios among participating institutions, the Report suggested that pooled asset management would help realize improved investment returns over the long term.
In July 2016, the Province announced the creation of IMCO through the Investment Management Corporation of Ontario Act. After six years of hard work and collaborative analysis to help establish the new asset manager, the Ontario Pension Board (OPB) and the Workplace Safety and Insurance Board (WSIB) became the new organization’s first clients.
In July 2017, IMCO began to manage approximately $60 billion in assets on behalf of its clients, becoming the ninth largest institutional fund in Canada.
Investment Management Corporation of Ontario
200 King Street West, Suite 2300
Toronto ON M5H 3T4
Toll Free: 844-383-4626