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 $118.4 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 $27.3 billion of AIMCo’s assets under management.
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 relative to most clients and amount to $425 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.
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 $12.9 billion of AIMCo’s assets under management and are invested in accordance 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 assets represent $1.6 billion of assets under management at AIMCo. Each of these organizations aims to achieve a very specific mandate and we work closely with them to understand their needs and execute accordingly.
Assets under management (AUM)
($Millions)
Pension Plans
Local Authorities
63,196
28%
34%
38%
Public Service
18,430
21%
46%
33%
Management Employees
6,497
22%
38%
40%
Special Forces
4,192
32%
36%
32%
Universities Academic
2,390
28%
0%
72%
Provincial Judges and Application Judges Unregistered
263
42%
37%
21%
Management Employees Supplementary
198
32%
47%
21%
Provincial Judges and Application Judges Registered
178
34%
39%
27%
Endowment Funds
Alberta Heritage Savings Trust
22,074
22%
37%
41%
Alberta Heritage Foundation for Medical Research
2,359
19%
42%
39%
Alberta Heritage Scholarship
1,551
18%
40%
42%
Alberta Heritage Science and Engineering Research
1,356
18%
40%
42%
Government Funds
Long Term Disability Bargaining Unit
239
47%
35%
18%
Unclaimed Property Fund and Vested Property Fund
141
100%
0%
0%
Long Term Disability Management
42
46%
32%
22%
Alberta Risk Management Fund
2
100%
0%
0%
A.L. Sifton Estate
1
100%
0%
0%
Insurance Funds
Workers' Compensation Board - Alberta
12,492
30%
35%
35%
Credit Union Deposit Guarantee Corporation
421
100%
0%
0%
Specialty Funds
Alberta Health Services
1,547
79%
18%
3%
Special Areas Long Term Account
34
100%
0%
0%
AIMCo Supplementary Retirement Plan
2
45%
55%
0%
- Asset class weights are per AIMCo's categorization criteria.
- Does not include portfolio construction market value of $58 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.