July 14, 2025

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PUBLISHED: January 2025

 

From a 10% return to an unprecedented Indigenous partnership, BCI’s work continues to support B.C.’s economic future

 

2025 marks the 25 year anniversary of British Columbia Investment Management Corporation (BCI) – a milestone underscoring its continued commitment to creating long-term value for British Columbians.

With $295 billion in gross assets under management, BCI is one of Canada’s largest institutional investors. One in 10 British Columbia households benefited from its work last year, and the organization’s ecosystem contributed $24.4 billion to the province’s GDP – roughly 5.9 per cent of the total economy.

“We often talk about numbers, but behind those numbers are people – retirees, families, communities,” says Ramy Rayes, Executive Vice President of Investment Strategy & Risk. “At BCI, our goal is not just strong performance – it’s delivering long-term value that’s meaningful to the people of British Columbia.”

Despite challenging market conditions, BCI delivered a 10 per cent return for its largest pension clients in fiscal 2025. The result reflects the strength of its diversified, long-term strategy. Today, just over half of BCI’s portfolio is in private assets such as infrastructure & renewable resources, private equity and real estate – investments that offer resilience and stability. At the same time, 85 per cent of assets are managed internally by investment professionals primarily based in Victoria and Vancouver.

“Bringing investment decisions in-house allows us to act quickly, manage costs effectively and ensure our clients’ priorities are front and centre,” Rayes says. “It’s a key reason why our returns have remained strong despite volatile market conditions.”

One of the year’s most meaningful milestones was BCI’s selection by The Four Pillars Society to manage $2 billion of the settlement fund representing 325 First Nations across Canada.

“This marks a momentous milestone in the stewardship of these settlement funds and the management of Indigenous capital in Canada,” says Cliff Fregin, Executive Director of the Four Pillars Society. “Through this unprecedented partnership, we have entrusted BCI as an investment manager to help grow and safeguard our collective assets, ensuring that we can continue to empower Indigenous communities to preserve what matters most.”

This represents BCI’s first Indigenous client – and its first with beneficiaries extending beyond British Columbia.

“We are deeply honoured to be awarded this significant investment mandate,” says Gordon J. Fyfe, CEO/CIO of BCI. “We look forward to building a strong partnership with The Four Pillars Society, working together to achieve their goals.”

As BCI reflects on 25 years of service, it remains focused on the future: resilient, responsible and ready to deliver on behalf of its clients, communities and province for generations to come.

 

Republished with permission. Read the original article on Surrey-Now Leader.