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 Alberta public sector pension plans representing hundreds of thousands of Albertans. Collectively, these plans account for $132.2 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, seen as 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 $30.9 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 $14.2 billion of AIMCo’s assets under management and are invested with an emphasis on stability and preservation of capital.
Specialty Funds
AIMCo manages the assets for select specialty funds, including some provincial arms-length organizations, which have unique objectives. In total, these funds represent $1.8 billion of assets under management at AIMCo. Each of these funds aims to achieve a very specific mandate and we work closely with them to understand their needs and execute accordingly.
Government Funds
AIMCo manages many key government assets used to fund the ongoing operations of the Province of Alberta. These funds have a lower risk tolerance to market fluctuations, reduced risk tolerance relative to most clients and amount to $457 million of AIMCo’s assets under management. They are primarily invested in fixed income products for stability, liquidity and preservation of capital and have a commensurately lower return expectation.
Assets under management (AUM)
($Millions)
Pension Plans
Local Authorities
70,570
31%
33%
36%
Public Service
20,960
30%
36%
34%
Management Employees
7,265
22%
36%
42%
Special Forces
4,745
32%
37%
31%
Universities Academic
2,595
28%
0%
72%
Provincial Judges and Application Judges Unregistered
295
42%
38%
20%
Provincial Judges and Application Judges Registered
196
34%
39%
27%
Management Employees Supplementary
225
33%
47%
20%
Endowment Funds
Alberta Heritage Savings Trust
24,990
23%
38%
39%
Alberta Heritage Foundation for Medical Research
2,649
20%
43%
37%
Alberta Heritage Scholarship
1,711
19%
40%
41%
Alberta Heritage Science and Engineering Research
1,513
19%
41%
40%
Insurance Funds
Workers’ Compensation Board - Alberta
13,786
31%
35%
34%
Credit Union Deposit Guarantee Corporation
449
100%
0%
0%
Specialty Funds
Alberta Health Services Fund
1,780
82%
16%
2%
Special Areas Long Term Account
35
100%
0%
0%
AIMCo Supplementary Retirement Plan
2
45%
55%
0%
Government Funds
Long Term Disability Bargaining Unit
261
47%
36%
17%
Unclaimed Property Fund and Vested Property Fund
148
100%
0%
0%
Long Term Disability Management
47
46%
33%
21%
A.L. Sifton Estate
1
100%
0%
0%
- Asset class weights are per AIMCo's categorization criteria.
- Does not include portfolio construction market value of $72 million in asset mix calculation.
- The fund’s balance has been utilized as intended for the purposes of meeting Alberta producer indemnity claims primarily resulting from recent drought conditions. Contributions going forward will be funded by future insurance premiums collected in excess of indemnities paid.