OMERS' actuarial deficit trebles to C$2.8bn

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CANADA - The C$41bn Ontario Municipal Employees' Retirement System (OMERS) returned 16% in 2005 and earned C$5.5bn net income, but could not prevent its actuarial deficit trebling to $2.8bn.

The fund easily beat its benchmark of 13.2%, and CEO Paul Haggis attributed the performance to the “exceptional” returns achieved from private market investments in real estate, infrastructure and ...

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