The fund generated $18.5bn in investment income during the year, with total assets increasing from $266.3bn in 2024. The pension plan remains fully funded for the 13th consecutive year and reported a preliminary funding surplus of $31.2bn with a funding ratio of 111%. 'Our 2025 results reflect the resilience of our diversified portfolio and the disciplined approach we take to manage the plan on behalf of our members. We remain fully funded and delivered a one-year net return of 6.7%, supported by performance from gold and our venture growth and public equities asset classes. Our private equity and real assets teams had a more challenging year given broad sector headwinds. We responded with disciplined year-end valuation adjustments to reflect current market conditions, which weighed on performance,' said Jo Taylor, President & Executive Officer. The fund underperformed its benchmark return of 11.7%, reflecting strong performance in public market-linked benchmarks and softer returns...
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