THUNDER BAY -- The city saw a 3.2 per cent return on its investments last year.
City council heard from AON Hewitt investment consultant Barbara Lomnicki Monday night that its portfolio, with around $65 million in market value, saw its total investment fund outperform above the 0.9 per cent expected.
Part of the reason is because around 80 per cent of that money is invested in bonds.
"These are stellar returns," she said, especially given the current global economic climate.
"And stellar positions."
The money is made up of reserve funds.
"Every time we use reserve funds we lose out on an opportunity to make money," City treasurer Rob Colquhoun said.
