AIMCo delivers return of 2.5% in 2018

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Alberta 3D waving flag illustration. Texture can be used as background. © Birgit Schmidt /123RF Stock PhotosIn a tough year for the returns of many pension plans, the Alberta Investment Management Corp. returned an aggregate net return of 2.5 per cent for its balanced fund clients in 2018, down from 10.4 per cent in 2017.

“Market volatility made 2018 a challenging year,” said the corporation’s chief investment officer Dale MacMaster in a press release. “Delivering a positive return for our clients was a significant achievement. Our results show the necessity of a diversified portfolio. Returns on some of our real estate and infrastructure investments helped offset results from asset classes that did not perform as well.”

The AIMCo, which manages funds for 14 Alberta pension and endowment balanced fund clients, ended 2018 with $108.2 billion in assets under management. Its balanced fund pension and endowment clients accounted for $89.5 billion of these assets while its government and specialty fund clients accounted for $18.7 billion.

The details of the fund’s returns will be released in the AIMCo’s annual report in June. In 2017, AIMCo’s balanced fund clients earned a net return of 10.4 per cent, while government and specialty funds earned a net return of 3.7 per cent.

Since the AIMCo was established in 2008, it has earned more than $60 billion in investment income, net of all costs.

“We continue to see our long-term investment strategies paying off for Albertans. The results are a testament to the expertise and dedication of our talented team,” said Kevin Uebelein, chief executive officer. “With the continued trust of our clients, we look forward to seeking out new investment opportunities that will build prosperity in the years to come.”

UPDATED MAY 9, 2019 at 9:50 a.m.

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