The Ontario Teachers' Pension Plan Board office in Toronto. Photo by Cole Burston/The Canadian Press files

Ontario Teachers’ Pension Plan gained 2.1 per cent in the first half of the year thanks to gold , which more than offset the muted returns of private assets.

Net assets increased to $269.6 billion, up $3.3 billion from year-end, according to a statement Monday. The Toronto-based pension plan earned 7.1 per cent in the past 12 months.

The fund’s gains were mostly driven by public assets, particularly gold. Bullion was also one of Ontario Teachers’ best-performing assets in 2024. The pension’s private assets were flat to negative, reflecting the challenging environment for those classes, according to chief executive Jo Taylor.

“We do have a very large allocation to active priva

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