Investment Results

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At ATRF we focus on finding the right balance of risk and returns, and to ensuring our investments are a strong fit with our strategic goals.

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 2019-20 fiscal year, ATRF’s investment portfolio returned 5.5% and the 4-year rate of return was 7.6%. Over the past 10 years, the investment return for the fund was 9.2%, compared to the benchmark of 8.5%. Below is a chart that indicates our returns for the fund broken down into asset classes and the relative benchmarks for each. The chart below that shows the progression of the fund’s assets since 1992.

2020 Investment Performance*

Asset ClassATRF 1 Year1 Year BenchmarkATRF 4 Years4 Year BenchmarkATRF 10 Years10 Year Benchmark
Fixed Income (FI)6.3%6.0%4.4%4.2%4.9%5.0%
FI - Universe Bonds6.0%5.8%4.0%3.7%4.5%4.4%
FI - Long-Term Bonds6.8%7.0%5.2%5.2%6.5%6.8%
FI - Money Market1.2%1.1%1.3%1.1%0.9%0.9%
Return Enhancing (RI)6.7%10.2%9.0%9.9%11.3%11.2%
RI - Global Equity6.5%11.0%7.0%9.2%10.1%11.1%
RI - Private Equity6.3%2.8%16.2%11.0%16.4%13.3%
Inflation Sensitive (IS)6.0%3.0%11.4%5.6%10.0%5.4%
IS - Real Estate4.1%2.0%9.0%5.2%9.1%5.7%
IS - Infrastructure9.2%4.9%16.6%6.4%12.5%5.8%
Absolute Return3.1%5.4%2.5%5.1%--
TOTAL PLAN5.5%7.3%7.6%7.3%9.2%8.5%

*Rates of return as at August 31, 2020, and net of costs.