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The fund was started in 1991 with an initial investment of $20M from the Missionary Oblates of Mary Immaculate. In 1999, the OIP Investment Trust was formed in the US as a 501(c)(3) not for profit charitable religious trust.

At the outset, the fund invested primarily in fixed income securities of entities domiciled in Canada and Germany. Today, the OIP Investment Trust offers a diversified fund investing in developed, emerging and frontier markets across multiple asset classes including both public and private market assets.