Ontario Teachers’ Bond Gain Helped Offset Real Estate Losses

Ontario Teachers’ Pension Plan said gains in its bond portfolio helped offset losses in infrastructure and real estate, allowing the fund to nearly break even in the first half of the year. The C$205 billion ($155 billion) pension fund lost 0.4% in the six months through June despite a stock market correction and economic upheaval sparked by the Covid-19 pandemic. “Some of our hardest hit investments were among our private assets. Heavily-impacted segments were leisure and travel, including our five airports, and assets where consumer spending declined, which is our shopping malls and Cadillac Fairview,” Jo Taylor, the chief executive officer, said in a conference call with journalists Tuesday.