Alberta’s purge at AIMCo followed a clash of visions, complaints …
2 hours ago · The Alberta government’s recent mass dismissal of Alberta Investment Management Corp.’s top leaders was the culmination of a clash over how the $169-billion pension-fund manager should be run.
Fired AIMCo chair disputes Alberta’s narrative on costs - Financial …
13 hours ago · Subscribe now to read the latest news in your city and across Canada. Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others. ... “That $258-million (based on 2022 figures) goes straight into Albertan’s pockets,” Kroner wrote. “AIMCo has always been, and remains, a cost-conscious, high value-for-money asset ...
After changes at AIMCo, United Conservatives now own successes …
6 days ago · Unmentioned in that news release is that, thanks in part to the shift of teachers' pension funds to AIMCo's portfolio, the agency's total managed assets rose over that stretch to $166 billion from ...
Why was AIMCo's CEO and board fired? What happens now?
4 days ago · A sharp rise in costs at Alberta’s $169 billion AUM public investment manager was a catalyst for drastic action by the provincial government late last week. The entire board of Alberta Investment Management Corporation (AIMCo) was dismissed with finance minster Nate Horner taking the chair role on a board for which he, for now, is the sole ...
'Unprecedented,' ‘earth-shaking' board upheaval at Alberta …
3 days ago · For context, Ambachtsheer noted that AIMCo had suffered significant investment losses in 2020, and that this had led to reconstituting its board and senior management team over the 2021-2023 period.
Alberta government fires AIMCo board, four top executives, in …
Nov 7, 2024 · In Friday's news release, the government said AIMCo's third-party management fees increased 96 per cent between 2019 and 2023. In the same period, the number of employees increased 29 per cent ...
Alberta names senior bureaucrat to lead AIMCo after ousting …
6 days ago · AIMCo’s costs have risen, sharply by some measures. Salary, wage and benefit costs rose 71 per cent to $222-million from 2019 to 2023, as the number of employees climbed from 465 to 600 ...
Alberta government fires AIMCo board citing rising costs, poor ...
Nov 7, 2024 · Finance Minister Nate Horner said in a statement Thursday that the changes at AIMCo are due to rising management fees coupled with a consistent failure to meet mandated benchmark returns.
Alberta Fires Pension Manager’s Entire Board Over Costs, Returns
Nov 7, 2024 · Aimco managed about C$161 billion ($116 billion) of public pension and other government money as of the end of 2023. ... News. Markets Economics Technology Politics Green Crypto AI.
Alberta government fires AIMCo board, citing rising costs and …
Nov 7, 2024 · The province said that from 2019 to 2023, AIMCo’s third-party management fees have increased by 96 per cent, the number of employees increased by 29 per cent, and wage and benefit costs ...