Ontario Pension Fund Achieves 7.4% Return

The Ontario Pension Fund delivered a 7.4% return last year. The performance was driven by strong equity gains and a roughly CAD 1 billion (about USD 723 million) return from reducing its position in AI‑cloud services provider CoreWeave Inc. Investment management shifted capital away from CoreWeave to more profitable opportunities, improving the portfolio’s risk profile while boosting net return. Volatility in the technology sector prompted a rebalancing of the fund’s holdings. The cash inflow from CoreWeave strengthened the fund’s liquidity management. Overall, the 2023 performance of the Ontario Pension Fund reflects its ability to adapt quickly to market conditions and its disciplined approach to asset allocation. This is not investment advice.