People, process, performance continued to improve in final year of the firm’s three-year transformation plan
VANCOUVER (October 17, 2023)—UBC Investment Management released its FY22-23 Annual Report today, delivering strong performance on behalf of the funds we manage, The University of British Columbia Endowment and the UBC Staff Pension Plan, while at the same time furthering our efforts in support of the funds’ responsible investing goals.
“The foundational work we undertook in previous fiscal years to strengthen our investment program and governance framework meant our portfolios were well positioned to weather the market fluctuations of 2022–2023,” says UBC Investment Management President and CEO Dawn Jia.
FY22-23 highlights include:
- Returns from UBC’s Main Endowment Pool were 4.7% year-over-year, outperforming the Reference Portfolio by 5.0%.
- The UBC Staff Pension Plan realized returns of 0.9%, outperforming the policy benchmark by 6.4%.
- Total Assets Under Management grew from $5.6B in FY21-22 to $5.8B in
- Ten-year annualized return for the Main Endowment Pool was 8.2% and 6.9% for the SPP.
FY22-23 also saw UBC Investment Management advance its Responsible Investing strategy to help both UBC and the Staff Pension Plan advance their own environmental and social justice objectives. Highlights include:
- More than $200 million investments made in climate-oriented funds managed by some of the world’s leading investment managers.
- At year-end, the Endowment fund’s carbon footprint was 50% lower than the baseline levels set in 2019, and its carbon intensity 46% lower.
- Carbon footprint and intensity measures for the UBC Staff Pension Plan have both decreased by 32% over the same period.
A copy of the FY22-23 Annual Report can be found here: https://ubcim.ca/reports/.
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