The Alberta Investment Management Corp. posted a 10.4 per cent return, net of all costs, at the end of 2017.
In a news release on Wednesday, the fund said its active selections in each asset class contributed a return premium of 1.3 per cent for its balanced fund clients relative to the passive benchmarks it uses for comparison. The fund’s release emphasized its extended time horizon and noted that, over the past five years, it has achieved a net return premium of 0.9 per cent on behalf of all clients.
“As a long-term investor, we are proud of the sustained value add that we have delivered to our clients since the province made the bold decision to establish AIMCo 10 years ago,” said Kevin Uebelein, chief executive officer of AIMCo, in a press release.
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As of Dec. 31, 2017, AIMCo held $103.7 billion in assets under management, which represents $8 billion in growth from $95.7 billion at the end of 2016. Further details of AIMCo’s strategy and performance for 2017 will be available in the fund’s annual report in June.
“Our strong investment performance in 2017 represents a short-term affirmation that our course of action is the right one and is the result of the high degree of trust our clients have placed in us to meet their objectives,” said Dale MacMaster, chief investment officer of AIMCo, in the press release. “More important, these returns have empowered our clients to make critical decisions for their stakeholders, such as reductions to contribution rates, or budget reconsiderations due to newly available funds. As Alberta’s economy strengthens, it is gratifying to be able to deliver our clients $1.1 billion of net value add against our benchmark returns.”
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