BRITISH COLUMBIA INVESTMENT MANAGEMENT CORP Profile
British Columbia Investment Management Corp is a private investment management company based out of Victoria, British Columbia. The company was established in 1999 under the Public Sector Pension Plans Act and is currently headed by CEO and CIO Gordon J. Fyfe. British Columbia Investment Management Corp, also known as bcIMC for short, provides a variety of investment management services for the public sector of British Columbia. The company was operates to place the investment agency at a distance from the government and avoid possible conflicts between policy decisions and public sector trust fund management, increase the capabilities of the bcIMC and ensure that the corporation has the necessary resources and flexibility to meet the challenges of global fund management, provide advantages of a large public sector investment management company, and provide a strong governance framework with proper accountability to its clients. The bcIMC operates through 13 main segments and holds a diversified portfolio of investments that include fixed income, mortgages, public equity, real estate, infrastructure, and renewable resources, believing that “companies that do a good job of managing environmental, social, and governance (ESG) matters have less risk and perform better financially over the longer term.” The company’s total assets under management, although suffering some volatility through the years, especially during the financial crisis of 2008 to 2009, has been growing steadily since its inception. The bcIMC’s total held assets have increased from $61 billion back in 2000 to well over twice that amount today, although it has fallen to as low as $53 billion. British Columbia Investment Management Corp allocates its managed assets in a highly diversified method. Its highest asset allocation in the information technology sector, which alone makes up a fifth of its total asset allocations, and the corporation also invests in the health care, finance, consumer discretionary, consumer staples, industrials, energy, and utilities and telecommunications sectors, among others to a lesser degree, in order of decreasing allocation.