Alberta Investment Management Corporation Announces Record Investment Performance on behalf of its 32 Clients
Earning a total fund return of 14.7% outperforming an aggregate benchmark of 8.0% resulting in a record annual value-add of $7.7 billion
EDMONTON, AB, April 21, 2022 /PRNewswire/ -- Alberta Investment Management Corporation (AIMCo) today announced its investment performance for the year ended December 31, 2021. On behalf of its Alberta-based pension, endowment and government fund clients, AIMCo earned a total fund return of 14.7%1 net of all fees — measuring a composite of its clients' portfolios. This represents the strongest year in AIMCo's history, surpassing an aggregate benchmark of 8.0%, resulting in a record annual value-add of $7.7 billion.
The annualized total fund returns over four and ten years are 7.4% and 8.6%, respectively. Total client assets under management at the end of the year were $168.3 billion.
Through active investment, in 2021, AIMCo achieved an excess return of 6.7% on total assets under management, over and above the composite benchmark. AIMCo's Balanced Funds, those portfolios that represent the full investment capabilities of AIMCo, earned a net return of 16.2%, outperforming the benchmark by 7.3%, while Government & Specialty Funds earned a net return of 5.0%, outperforming the benchmark by 2.8% for the year.
"Delivering record investment returns is a tremendous accomplishment made possible by our in-house asset management expertise. Ultimately, these returns are for the benefit of our clients and we're proud to play our role in helping them secure a better financial future for the Albertans they serve," said Evan Siddall, Chief Executive Officer. "By providing superior, long-run, risk-adjusted net returns, we are proud to support each of our clients in achieving their long-term goals."
For the Year Ended December 31, 2021
Time period | One-Year | Four-Year | Ten-Year |
AIMCo Total Fund Return (Net of All Fees) | 14.7% | 7.4% | 8.6% |
AIMCo Composite Benchmark | 8.0% | 7.0% | 7.9% |
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1 AIMCo Total Fund performance results are net of fees and do not include $30.1 billion of assets transferred from the Alberta Teachers' Retirement Fund, Alberta Health Services and Workers' Compensation Board – Alberta in 2021 that have not yet met the required conditions for inclusion in AIMCo's value-add as at December 31, 2021. |
For the Year Ended December 31, 2021
Market | One- | Value | Four- | Value | |
AIMCo Total Fund1 | $138,139 | 14.7% | 6.7% | 7.4% | 0.4% |
Money Market & Fixed Income2 | $48,369 | -1.1% | 1.1% | 3.6% | 0.6% |
Public Equities3 | $51,932 | 23.4% | 5.3% | 9.7% | -1.8% |
Private Equity | $8,209 | 65.9% | 57.1% | 22.3% | 14.0% |
Real Estate | $18,272 | 14.5% | 6.8% | 3.7% | -1.1% |
Infrastructure | $10,579 | 19.0% | 12.2% | 8.8% | 2.5% |
Renewable Resources | $1,833 | 15.0% | 8.2% | 9.6% | 3.3% |
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1 AIMCo Total Fund performance results are net of fees and do not include $30.1 billion of assets transferred from the Alberta Teachers' Retirement Fund, Alberta Health Services and Workers' Compensation Board – Alberta in 2021 that have not yet met the required conditions for inclusion in AIMCo's value-add as at December 31, 2021. |
2 Money Market and Fixed Income Total Market Value includes $2,012 million of notional exposure of this asset class. This is composed of cash and synthetic cash from AIMCo's Tactical Overlay Program, plus notional Fixed Income exposure. |
3 Public Equities Total Ending Market Value does not include Tactical Overlay Program notional exposures in this asset class. |
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For the third consecutive year, the Responsible Asset Allocator Initiative (RAAI) has placed AIMCo among the world's top 30 most responsible asset allocators Read More
Over the course of 2021, AIMCo integrated the investment assets of the Alberta Teachers' Retirement Fund, Alberta Health Services and the Workers' Compensation Board – Alberta, bringing total assets under management to $168.3 billion at year end.
Detailed performance information will be released in AIMCo's 2021 Annual Report, available at the end of June.
AIMCo is among Canada's largest and most diversified institutional investment managers with $168.3 billion of assets under management. AIMCo invests globally on behalf of 32 pension, endowment and government funds in the Province of Alberta.
For more information about AIMCo please visit www.aimco.ca or follow us on LinkedIn or Twitter.
Contact: Dénes Németh, Vice President, Corporate Communications & Public Affairs, M: 780-932-4013, O: 780-392-3857, E: denes.nemeth@aimco.ca
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