WISE Trust Delivers Impressive 7.9% Return for 2023
TORONTO, April 18, 2024 /CNW/ - In an environment of economic uncertainty, WISE Trust has demonstrated its value to members and security of benefits by achieving a 7.9% net return on investments for the fiscal year 2023. This brings the assets of the Workplace Safety and Insurance Board Employees' Pension Plan (the Plan) to a total of $4.0 billion. The 2023 return not only underscores the organization's robust investment strategies but also reaffirms the value of WISE Trust's partnership with Investment Management Corporation of Ontario (IMCO), the Plan's exclusive investment manager.
Despite facing numerous market fluctuations throughout the year, WISE Trust has remained steadfast in its pursuit of delivering sustainable growth and stability to Plan members. The positive performance of the Plan's fund provides members with the peace of mind they deserve as they plan for retirement.
"We are thrilled to announce a 7.9% return on portfolio investments for 2023," said Christopher Brown, WISE Trust CEO. "This accomplishment is a testament to the hard work and dedication of our team and our partners at IMCO, as well as our unwavering commitment to delivering value to our members. Despite the challenges, we have remained agile and focused, ensuring that we continue to meet and exceed the expectations of those who have entrusted us with their financial future. With a track record of consistent growth, and a dedication to putting members first, WISE Trust continues to strive for excellence in providing retirement security to our 10,000+ members."
Further Mr. Brown added, "At WISE Trust we understand the importance of providing reliable and consistent returns to secure the benefits of our Plan members. As we look ahead, we remain committed to upholding the highest standards of integrity and transparency in everything we do, ensuring that our members can retire with confidence and dignity."
The Workplace Safety and Insurance Board Employees' Pension Plan (the Plan) is a jointly sponsored defined benefit pension plan co-sponsored by the Workplace Safety and Insurance Board (Ontario) and the Ontario Compensation Employees Union, CUPE Local 1750 (OCEU). The WISE Trust Board of Trustees (made up of individual trustees appointed by the WSIB and OCEU) is the legal administrator of the Plan.
On July 1, 2020, the Plan became the first pension plan in Ontario to convert from a single employer pension plan to a jointly sponsored pension plan.
IMCO is the exclusive investment manager for the Plan, operating to implement the investment policy and strategic asset allocation set by the WISE Trust Board of Trustees.
SOURCE WISE Trust
For media inquiries, please contact: Monique Patrick, WISE Trust, Communications Specialist, [email protected]
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