BCI makes investment decisions that secure the financial futures of our clients’ pension plan members, representing more than 569,000 people in British Columbia, and the insurance and benefit funds for over 2.3 million workers. This is a role that we take very seriously. We focus on understanding our clients’ different investment needs – whether managing pension funds on behalf of trustees, growing capital reserves for insurance funds, or generating income for trust funds.
We are committed to providing professional fund management for all asset classes, exercising the highest standards of prudence and fiduciary responsibility. We deliver to our clients the highest return for a given level of risk, at a reasonable cost, while recognizing our responsibility to the broader society through our environmental, social, and governance (ESG) related activities.
Our investment activities are based on the best financial interests of our clients, and we are accountable to our clients for investment returns. Our clients are not mandated to use BCI and have voluntarily chosen to use us as their investment manager.
Each client establishes the investment framework and sets the performance targets for their fund. They determine the asset allocation framework and the diversification of the portfolio. Some plans take greater market and liquidity risk to strengthen long-term returns.
CLIENT PROFILE
As at March 31, 20171
1 Percentages based on net assets
Pension Plans
We provide investment services to 11 public sector pension plans. This is our largest client group and makes up the majority of the assets (approximately 84.4 per cent1) we manage. BCI is the fourth largest fund manager in Canada and the work that we do goes a long way to securing the pensions of more than 569,000 plan members. Our largest pension plan clients include:
The Municipal Pension Plan has over 309,000 active, inactive and retired members in BC. Members come from a variety of sectors across the province, including health, municipalities and school districts. The plan is the sixth-largest defined benefit pension plan in Canada.
The Public Service Pension Plan serves over 119,000 active, inactive and retired members in BC’s public sector. The plan is the seventh-largest defined benefit pension plan in Canada.
The Teachers’ Pension Plan has almost 94,000 active, inactive and retired members from all school districts across BC. The plan is the ninth-largest defined benefit pension plan in Canada.
The College Pension Plan includes over 25,400 active, inactive and retired members from most of the publicly funded post-secondary institutions in BC.
The BC Hydro Pension Plan is a single-employer plan that serves eligible employees for BC Hydro. The plan has over 13,000 members.
The WorkSafeBC Pension Plan is a single-employer plan that serves eligible employees of WorkSafeBC. The plan has over 5,500 active, inactive and retired members.
1 as per our 2016-2017 Corporate Annual Report