British Columbia Investment Management Corp. (BCI) grew its gross assets under management to $295 billion for the fiscal year, which ended on March 31, before subtracting real estate debt and other liabilities, up from $250 billion a year earlier. (The Logic)
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British Columbia Investment Management Corp. (BCI) grew its gross assets under management to $295 billion for the fiscal year, which ended on March 31, before subtracting real estate debt and other liabilities, up from $250 billion a year earlier. (The Logic)
Talking point: While BCI’s returns missed its internal benchmark of 12.3 per cent, executive vice-president of investment strategy Ramy Rayes described fiscal 2024 as a “good year” for the fund manager. The firm has been busy, despite uncertainty in the market keeping other investors from deploying capital. It signed 45 deals in the past six months and plans to keep up the investment pace. Like some other pension fund managers, BCI is curbing its investments in the U.S., where the Donald Trump administration has introduced unstable trade and tax policies. BCI’s U.S. assets shrunk from 43.4 per cent of its portfolio in 2023 to 38.9 per cent in 2024, while its Canadian investments grew from 30.8 per cent to 37.8 per cent.
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