Investments: Public Markets Investment Managers and Strategies

At December 31, 2010, OPTrust's external public market investment managers included the following:

Asset Class	Manager	Strategy	Focus
Canadian Equities	Beutel, Goodman and Company	Active	Canadian Large Capitalization
	PCJ Investment Counsel	Active	Canadian Large Capitalization
	Fiera Sceptre	Active	Canadian Small Capitalization
	BlackRock Asset Management	Enhanced Index	Canadian Large Capitalization
Foreign Equities	State Street Global Advisors	Passive	U.S. Large Capitalization
	Rothschild Asset Management	Active	U.S. Small-Medium Capitalization
	Grantham, Mayo, Van Otterloo & Co.	Active	Foreign Excluding U.S.
	Walter Scott & Partners	Active	Foreign Excluding U.S.
	Marathon-London Asset Management	Active	All Foreign Markets
	Baillie Gifford	Active	Emerging Markets
Foreign Currency	BlackRock Asset Management	Active & Passive	Developed Market Currencies
	First Quadrant	Active	Developed Market Currencies
	Principal Global Investors	Active	Developed Market Currencies
	Millennium Global Investments	Active	Developed & Emerging Markets Currencies
Fixed Income	Phillips, Hager & North Investment Management	Active	Canadian Government & Corporate Bonds
	Addenda Capital	Active	Canadian Government & Corporate Bonds
	Goldman Sachs Asset Management	Quantitative	Canadian Fixed Income Swaps
Commodities	Goldman Sachs Asset Management	Passive	Energy
Commodities	Jefferies Asset Management	Active	Energy