03/03/2016 13:18 EST | Updated 03/04/2017 00:12 EST

Retirement fund for Ontario health-care sector posts 5.12% rate of return

TORONTO — The Healthcare of Ontario Pension Plan had a 5.12 per cent rate of return on its investments in 2015, with assets growing by $3.1 billion over the year.

HOOPP's assets totalled $63.9 billion as of Dec. 31, up from $60.8 billion at the end of 2014.

The fund's growth was subdued compared with 2014, when investment assets grew by $9.1 billion.

Nevertheless, HOOPP exceeded its portfolio benchmark by $700 million.

HOOPP is one of Canada's 10 biggest retirement funds by assets. It manages investments for about 309,000 current and former employees of 490 employers associated with the Ontario Hospital Association.

Its beneficiaries include retired nurses, medical technicians and other hospital staff.

The Canadian Press