Each of AIMCo’s clients operates within unique parameters and with specific obligations. Our clients are responsible for establishing their respective investment policies and return targets.
AIMCo works with them to develop appropriate investment portfolios that consider the risk and return characteristics so they can meet those targets.
Pension Plans
AIMCo manages the investments for public sector pension plans representing hundreds of thousands of Albertans. Collectively, these plans account for $110.7 billion of AIMCo’s assets under management. We work closely with each pension plan to understand their investment policy objectives and to determine an investment approach that is appropriate for their needs.
Endowment Funds
AIMCo manages the investments for several endowment funds including the Alberta Heritage Savings Trust Fund, a pioneer among sovereign wealth funds. These funds have long time horizons and have been established to provide long-term savings as well as financing for medical research, academic scholarships, science and engineering. These assets account for $24.8 billion of AIMCo’s assets under management.
Insurance Funds
AIMCo manages the investments for several insurance-related funds on behalf of provincial arms-length organizations including Workers’ Compensation Board – Alberta, Credit Union Deposit Guarantee Corporation and Agricultural Financial Services Corporation. These funds amount to $12.8 billion of AIMCo’s assets under management and are invested in accordance with each client’s investment policy, with an emphasis on stability and preservation of capital.
Government Funds
AIMCo manages many key government assets used to fund the ongoing operations of the Province. These funds have a lower risk tolerance to market fluctuations, reduced risk relative to Pension or Endowment clients and amount to $8.1 billion of AIMCo’s assets under management. They are invested in fixed income products for stability, liquidity and preservation of capital and have a commensurately lower return expectation.
Specialty Funds
AIMCo manages the assets for select Specialty Funds, including some provincial arms-length organizations, which have unique objectives. In total, these assets represent $1.7 billion of assets under management at AIMCo. Each of these organizations aims to achieve a very specific mandate and we work closely with them to understand their needs and execute accordingly.
Balanced Fund
The Balanced Fund is a composite of client accounts that invest in the three main asset class categories of Money Market & Fixed Income, Public Equities, and Illiquids. These clients mandate AIMCo to combine asset allocation and active investment management to seek higher returns. Diversification plays an important role in maintaining a level of portfolio risk that is appropriate to the client as these funds can invest in a wider set of investment opportunities.
Assets under management (AUM)
Pension Plans
Local Authorities
58,526
26%
35%
39%
Public Service
17,074
17%
50%
33%
Management Employees
6,108
23%
40%
37%
Special Forces
3,852
28%
41%
31%
Universities Academic
2,236
27%
0%
73%
Judges Supplementary Retirement
242
40%
38%
22%
Judges
168
33%
39%
28%
Management Supplementary Retirement
178
30%
47%
23%
Endowment Funds
Heritage Savings Trust
19,801
19%
37%
44%
Heritage Medical Research
2,225
19%
40%
41%
Heritage Scholarship Trust
1,465
20%
37%
44%
Heritage for Science and Engineering
1,327
19%
39%
42%
Government Funds
Cash Reserve Account
4,018
100%
0%
0%
General Revenue
3,571
100%
0%
0%
Long Term Disability Bargaining Unit
234
46%
36%
18%
Unclaimed Property Fund
134
100%
0%
0%
Alberta Risk Management Fund
72
100%
0%
0%
Long Term Disability Management
41
44%
33%
23%
A.L. Sifton Estate
1
100%
0%
0%
Insurance Funds
Workers' Compensation Board - Alberta
12,112
29%
34%
37%
Credit Union Deposit Guarantee
393
100%
0%
0%
Agriculture Crop Insurance
263
100%
0%
0%
Specialty Funds
Alberta Health Services
1,413
77%
20%
3%
Alberta Securities Commission
116
70%
30%
0%
City of Medicine Hat
105
40%
60%
0%
Special Areas Long Term Account
32
100%
0%
0%
AIMCo Retirement Compensation Arrangement Fund
2
44%
56%
0%
- Asset class weights are per AIMCo's categorization criteria.
- Includes Canadian Equity, Global Equity, Global Small Cap Equity, Emerging Market Equity and Global Minimum Variance.
- Asset mix calculation does not include portfolio construction market value of $33 million.