The Meaning of Inclusive Capitalism by Michael Latimer, President and CEO, OMERS

Michael Latimer
President and CEO, OMERS

From my lens as the CEO of one of Canada's largest defined benefit pension plans, inclusive capitalism involves the meaningful cascade of value that is created through long-term, efficient and diversified investing. My role gives me a unique vantage point, both in terms of a window on global capital markets, as well as the perspective of our hard-working members. They range from police and fire fighters, to librarians and municipal sector workers.

At OMERS, our accountability is to provide a secure, stable and predictable source of income to our members at retirement. We treat every dollar we invest on their behalf as if it were our own. We call this approach 'value for pension dollars' - making carefully researched and thoughtful decisions, and keeping the obligation we have to our members top of mind throughout the process.

Our strategy involves building a diversified, low-cost portfolio invested around the world in leading companies, infrastructure and real estate. These are attractive assets that would be very difficult for our average member to invest in individually

However, it goes both ways. Our members, with the financial security of a stable source of income in retirement, provide our economy with additional stability. Research we've done has shown that our members end up contributing to their local economy and the broader economy through taxes and spending throughout their retirement.

At OMERS, we fundamentally believe in the importance of retirement security, and that it contributes to economic inclusiveness. I believe this is a true example of inclusive capitalism, and one that can be a source of ideas for expanding the benefits that our economic system can offer to a much broader group of people.