New Brunswick Investment Management Corporation

Investment Management Corporation releases 2007-08 annual report (08/09/09)

NB 1290

Sept. 9, 2008

FREDERICTON (CNB) - The annual report for the 12-month period ended March 31, 2008, has been released by the New Brunswick Investment Management Corporation (NBIMC).

The report contains the results of NBIMC's investment management activity for the three funds under its trusteeship: the Public Service Superannuation Fund, the Teachers' Pension Fund, and the Judges' Superannuation Fund.

As previously announced, rates of return for the 12-month fiscal period were 0.76 per cent for the Public Service Superannuation Fund, 0.83 per cent for the Teachers' Pension Fund, and 0.76 per cent for the Judges' Superannuation Fund. Longer term four-year annualized returns were 8.39, 8.26, and 8.63 per cent, respectively. The difference in returns realized by each of the three client funds results from the different proportions of equity and fixed income assets held by each fund.

"Our annual report provides details with respect to our investment operations over the past fiscal year," said John Sinclair NBIMC president and CEO. "While the global financial markets presented a number of investment challenges over the period, we are pleased to report that our long-term returns continue to exceed the actuarial requirements of each of the three funds under management."

NBIMC was formed in 1996 to operate at arm's-length from government to manage the pension assets of over 46,000 plan members, including teachers, judges and public servants.

The annual report is available online.

08/09/09

MEDIA CONTACT: John Sinclair, president and CEO, New Brunswick Investment Management Corporation, 506-444-5800.

08/09/09