IMCO was created to deliver dynamic, cost-efficient investing solutions for public sector pensions and investment funds in Ontario. Through asset pooling, funds can reduce investment management costs and access a broader range of investment strategies, which help to improve returns and ultimately sustain pension and benefit security for Ontarians.
“Our focus is on providing cost-effective, end-to-end investment solutions. Our clients receive high-quality portfolio construction advice, better access to investment opportunities and rigorous risk management.”
Bert Clark, President & CEO
Creating a Pooled Asset Manager in Ontario
The 2012 Report Facilitating Pooled Asset Management for Ontario’s Public-Sector Institutions sets out foundations for IMCO, leveraging the following principles:
- IMCO is an independent organization with a professional and representative board of directors
- Investment decisions are based solely on seeking the best returns, without political influence
- World-class governance, professional investment, risk management practices and competitive compensation are key characteristics
- IMCO’s assets under management must be sufficient to support investing in a broad range of asset classes at the most competitive costs
- Participating institutions retain fiduciary responsibility and control over asset allocation decisions
- Employees and retirees remain members of their existing plans (the relationship between the pension plan and its members does not change)
In 2016, IMCO was created through the Investment Management Corporation of Ontario Act. In 2017, IMCO began to manage assets on behalf of its initial clients, becoming one of Canada’s largest institutional investors.
Pooled asset management framework for Ontario’s public-sector pension funds established