Fixed Income

Our fixed income program invests $77.1 billion in public and private market debt and oversees our exposure to foreign currency – a key consideration as we expand our global investment reach. It includes money market and bond portfolios, as well as foreign exchange hedging and trading.

Combined Pension Plan Fixed Income Performance¹ (%)

Annualized returns for the periods ended March 31, 2023

¹The Combined Pension Plan Clients reflect the investments of BCI's six largest pension clients: BC Hydro Pension Plan; College Pension Plan; Municipal Pension Plan; Public Service Pension Plan; Teachers' Pension Plan; and WorkSafeBC Pension Plan.

FIXED INCOME PORTFOLIO ASSETS (%)

As at March 31, 2023

¹The values presented above do not reflect certain pool funds held within other asset classes. As at March 31, 2023 this amounted to approximately $0.7 billion in money market funds and $26.5 billion in floating rate funds.

FIXED INCOME INVESTMENT INVENTORY

Our Fixed Income Program

BCI offers our clients a diverse range of fixed income products, including global government bonds, corporate bonds, and high-yield debt. By co-investing with specialized external managers, we also provide exposure to private credit opportunities in Canada, the United States, and Europe. Our strategies include yield curve positioning, duration timing, and securities selection. Issuers within our pools are assessed and reviewed regularly for default and credit risk. Credit limits are set for approved issuers to mitigate risks. We use internally- and externally-produced credit ratings to assess the investment risk.

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