BCI Tops 6.0% Pension Target With 6.7% Return as Assets Rise to $313.7B
Updated
Updated · marketsgroup.org · Jul 15
BCI Tops 6.0% Pension Target With 6.7% Return as Assets Rise to $313.7B
1 articles · Updated · marketsgroup.org · Jul 15
Summary
BCI delivered a 6.7% fiscal 2026 return for its six largest pension clients, beating their 6.0% actuarial target but trailing its 7.6% benchmark; all six plans stayed fully funded at 100% to 124%.
Assets under management rose to $313.7 billion from $295 billion, helped by $16.6 billion in investment income as the fund leaned on disciplined deployment, liquidity generation and broader direct investing.
Private markets underpinned results: private equity returned 8.1% on $36.1 billion of assets after $6.7 billion of deployment, while private debt returned 6.1% and expanded with a net $2.7 billion invested plus $1.8 billion seeded to investment-grade private credit.
Public markets added strong support, with emerging markets returning 28.6%, Canadian equities 22.9% and global equities 16.0%, while infrastructure returned 7.6%.
Real estate remained the weak spot—equity lost 4.9% as higher rates pressured valuations—though QuadReal's real estate debt returned 5.3%, reflecting BCI's shift toward lending and dislocated core-property opportunities.