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OMERS posts $500-million mid-year loss amid global market strife

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“Let’s recognize that these times will pass too,” says Blake Hutcheson, CEO of the pension plan giant.

It’s been half a year of financial-market turmoil, but Blake Hutcheson, CEO of one of Ontario’s biggest pension funds, sees a light at the end of the tunnel.

“Let’s recognize that these times will pass too,” Hutcheson said, when asked about how he would explain the fund’s mid-year results, which included a loss of $500 million, to OMERS’ 550,000 plan members that include many municipal workers and retirees. Hutcheson said he and the investing teams at OMERS believe the Bank of Canada is doing everything it can to bring inflation back into the “home” range of two per cent.

 

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