ATRF's investment portfolio is structured to deliver the returns necessary to fund pension benefits over the long term. It is diversified by asset type, geography and risk profile in order to control the impact of short-term volatility in investment markets to the extent possible.
In the 2017-18 fiscal year, ATRF's investment portfolio returned 9.6% and the 4-year rate of return was 8.1%.
Over the past 15 years, the investment return for the Teachers' Pension Plan was 7.5%, which was 0.8% above the average funding discount rate. For the Private School Teachers' Pension Plan, the rate of return was 7.1% over the same time period. The return differs slightly from the return on the Teachers' Pension Plan as it did not include the loan to the Government of Alberta that was part of the assets of the Teachers' Pension Plan until the end of 2009.
Below is a chart that indicates our returns and the average funding discount rate over the last 15 years.