BCI reports record 16.5% return through pandemic

The British Columbia Investment Management Corporation (BCI) has reported it ended its fiscal year on March 31 with $199.6 billion in managed assets and a net return of 16.5% for its pension plan clients.

BCI's CEO and CIO, Gordon Fyfe, told Black Press a shift to managing assets in-house freed up $3 billion. Those savings are now being invested as well as covering the cost of 400 new employees.

“It certainly helps the economy. We now have 600 people managing $200 billion based here in Victoria. Rather than everybody around the world taking that money from our pensioners, that money’s staying here in the province," Fyfe told Black Press.