The article discusses the annual return of AIMCo (Alberta Investment Management Corporation), Canada’s largest pension manager. Here are some key points:
- Annual Return: AIMCo posted an annual return of 6.9% for the year, but missed its benchmark.
- 10-Year Return: The asset manager’s annualized 10-year return was 6.7%, while its balanced fund mix returned 7.3%.
- Real Estate Headwinds: AIMCo’s real estate investments were affected by rising interest rates and market volatility.
- Pension Fund Shift: The article mentions a government initiative to keep more pension dollars in Canada, which could lead to more infrastructure investments and airport privatizations.
- Private Debt Expansion: AIMCo is keen to expand its private debt activities, with "modest" deal flow from a joint venture with PSP (Public Sector Pension Investment Board).
- Strategic Partnerships: The asset manager has formed partnerships with global players in private credit, leading to increased deal flow and bigger allocations.
- Airport Privatization: AIMCo is eyeing the potential privatization of Canadian airports, which could provide opportunities for pension investments.
Overall, the article provides insights into AIMCo’s investment performance, its efforts to adapt to changing market conditions, and its interest in expanding into new asset classes like private debt.
