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British Columbia Municipal Pension Plan

PRI reporting framework 2020

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Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.3. Additional information. [Optional]

The Municipal Pension Plan (MPP) is a jointly trusteed defined benefit pension plan governed by a Joint Trust Agreement (Agreement). The partners to the Agreement are the Municipal Employees' Pension Committee, as the member partner, and the Province of British Columbia and the Union of British Columbia Municipalities, as the employer partner. The Partners and appointing authorities are responsible for nominating and appointing the sixteen trustees and sixteen alternate trustees representing Plan members and Plan employers. The Agreement describes the composition and powers of the Municipal Pension Board of Trustees (Board) and provides the authority for the Board to make MPP rule changes, if changes are cost-neutral to the Plan. Unless required for legal compliance, changes that result in contribution rate changes, or cause or increase an unfunded liability, can only be initiated by the Partners. The Board is fully responsible for the management of the Plan, including investment of the assets and Plan administration. The Chair and Vice Chair of the Board are appointed by the other trustees. British Columbia Pension Corporation provides benefit administration services and British Columbia Investment Management Corporation (BCI) provides investment management services as agents of the Board. BCI has a role that goes beyond that of a typical fund manager, effectively functioning as MPP’s internal investment staff.


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Canada

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

1 FTE

02.4. Additional information. [Optional]


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

Net assets are reported as at December 31, 2019. All assets are unaudited. Audited 2019 values will not be available within this PRI reporting period, however, our investment agent British Columbia Investment Management Corporation (BCI) is confident that the percentage ranges reported for this period will not be significantly affected.


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 10-50% 33.6 0 0
Fixed income 10-50% 27.38 0 0
Private equity 10-50% 10.12 0 0
Property 10-50% 15.52 0 0
Infrastructure <10% 9.21 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry <10% 1.17 0 0
Farmland <10% 0.83 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Money market instruments <10% 2.17 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]


OO 07. Fixed income AUM breakdown

07.1. Provide to the nearest 5% the percentage breakdown of your Fixed Income AUM at the end of your reporting year, using the following categories.

Internally managed
50 SSA
10 Corporate (financial)
40 Corporate (non-financial)
0 Securitised
Total 100%

OO 08. Segregated mandates or pooled funds (Not Applicable)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

84.79 Developed Markets
13.88 Emerging Markets
0.01 Frontier Markets
1.32 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

The Board recognizes that strong corporate governance and responsible corporate behaviour pertaining to environmental and social factors will generally contribute to better long-term financial performance of a company.

 


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