PSP Investments Posts 10.7% 10-Year Annualized Rate of Return as Net Assets Under Management Grow by 9.7% to $168 Billion in Fiscal Year 2019 - Seite 4

in Australia, North America and selected regions in Latin America
with significant investments in new agriculture joint ventures.
Notable developments also included the strategic alliance of
TimberWest and Island Timberlands, leading to the establishment of
Mosaic Forest Management, which enables the shared use of facilities,
enhanced forest stewardship and alignment of best practices.

Total Costs

PSP Investments' total cost ratio was 67.3 cents per $100 of
average net investment assets in fiscal year 2019, compared to 69.8
cents in fiscal year 2018, and 70.5 cents in fiscal year 2017.
Operating costs have remained constant at 31.7 cents for fiscal year
2019, the same as for fiscal year 2018. The stability in our cost
ratios reflects PSP Investments' focus on enhanced cost management as
we achieve our Vision 2021 strategic plan. These ratios can vary
year-over-year as they are impacted by net AUM's fluctuations.

Corporate Highlights

- We expanded our global footprint, opening a third international
office in Hong Kong to support our global portfolio. Within the
framework of our Vision 2021 plan, we significantly scaled our
investment strategies, added new asset classes and are well on
track to reach over $250.0 billion of assets under management by
2028.
- As part of our One PSP vision, we implemented a total fund approach
to our investment strategies, decision-making processes and risk
management, while maintaining an entrepreneurial and agile culture.
In July, Eduard van Gelderen was appointed as Senior Vice President
and Chief Investment Officer, bringing strong market knowledge,
investment expertise, international experience and leadership
skills.
- We implemented our new and far-reaching Talent Value Proposition to
enhance the overall employee experience with a focus on moments
that matter in attraction, development, reward and retention, as we
continued to make inclusion and diversity a leadership commitment.
At PSP Investments, women hold 36.4% of senior positions, while
members of visible minority groups represent 18.5% of our Canadian
workforce.
- We continued to affirm our commitment to inclusion and diversity
(i&D) through the work of our i&D Council, co-chaired by our
President and CEO and Chief Human Resources Officer. Our i&D
strategy promotes a wide variety of viewpoints and a respectful
work environment that encourages and values differences. During
fiscal year 2019, 60 very committed PSP employees led at least one
major activity for each of our eight affinity groups and leveraged
technology to include employees across our Canadian and