Investment Performance


Detailed Performance Results

When assessing our results, the performance of each mandate is compared to the return of the benchmark that has been designated by the Investment Committee and approved by the Board.

This quantitative analysis, together with other qualitative criteria, assists in the review of each investment manager. We also measure our overall portfolio performance against a weighted average of the benchmark returns based on our target allocations.

The table below shows the gross returns for the total portfolio and each asset class (as well as the corresponding benchmark return) for the one-year, five-year, 10-year and 20-year periods ending December 31, 2018. We have not shown net returns in this table as certain investment costs, such as staff and office expenses, are not directly attributable to any specific asset class.

pg 43 Annualized Performance Summary