Strong Results Highlight AIMCo's Second Quarter Performance Report
Easing of pandemic impacts, vaccination ramp-up and economic reopening help drive client portfolio growth
Q2 2021 Highlights
- 5.2% total fund net return
- 8.1% annualized 10-year total fund net return
- $2.1 billion in value-add compared to the benchmark return
- $123.4 billion assets under management
EDMONTON, AB, Aug. 18, 2021 /CNW/ - Alberta Investment Management Corporation (AIMCo) is pleased to announce continued outperformance of its investment benchmarks on behalf of its clients. For the second quarter of 2021, AIMCo earned a total fund return — reflecting a composite of its clients' portfolios — of 5.2% net of all fees relative to an aggregate benchmark of 3.4%. Total client assets under management ended the quarter at $123.4 billion.
As of June 30, 2021, AIMCo has earned a year-to-date total fund return of 7.3%, surpassing its benchmark by 3.5%. The annualized total fund returns over four and ten years are 6.9%, underperforming its benchmark by 0.1%, and 8.1%, outperforming its benchmark by 0.5%, respectively.
In addition to the release of its annual report each June, AIMCo will now issue a quarterly performance report. "We invest our clients' funds for the long term," said Evan Siddall, Chief Executive Officer. "Nevertheless, quarterly performance reporting demonstrates accountability to our clients and Albertans. It reflects a commitment to rigour and excellence that we owe to our stakeholders and we believe will promote stronger long-term results."
"Client portfolios continued to perform well amidst dynamic market conditions, generating $4.0 billion of value-add above benchmarks over the first half of 2021," said Dale MacMaster, Chief Investment Officer. "This outcome has been driven by solid performance in all asset portfolios, notably public and private equity. Despite rising yields during the early part of 2021, fixed income also contributed to AIMCo's strong second quarter performance."
By year end, AIMCo expects to substantially complete 30 action items stemming from a 2020 Board of Directors' review of risk management practices, with 18 fully completed by the end of Q2. However, a final item, the year end target for completed reviews of all products and strategies, has proven particularly time-intensive. As a result, while this work is progressing well, it will take several months longer to accomplish comprehensively.
The full Q2 performance report is available for download from AIMCo's Website. Read More
Highlights
Investments
- AIMCo, alongside CPP Investments, provided a $2.4 billion follow-on commitment to BAI Communications Read More
- AIMCo and OMERS sold a majority stake in Environmental Resources Management (ERM) Read More
- Iguá Saneamento S.A. (Iguá), a company in clients' Infrastructure portfolios, won the auction for a Brazilian water and wastewater services concession for $1.7 billion Read More
Responsible Investment
- AIMCo and its peers in the Investor Leadership Network (ILN) are using their collective voice to effect meaningful change in the investment industry when it comes to equity, diversity and inclusion (EDI) Read More
AIMCo Corporate
- Evan Siddall named CEO effective July 1, 2021 Read More
- Jim Keohane appointed to Board of Directors, Jackie Sheppard reappointed Read More
- Alison Schneider, Vice President of Responsible Investment, selected for a 2021 Clean50 Award Read More
- The AIMCo Foundation delivered $233,000 in grants and scholarships in 2020 Read More
About Alberta Investment Management Corporation
AIMCo is one of Canada's largest and most diversified institutional investment managers with more than $120 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 on AIMCo please visit www.aimco.ca or follow us on LinkedIn.
SOURCE Alberta Investment Management Corporation
Media Contact: Dénes Németh, Vice President, Corporate Communications & Public Affairs, M: 780-932-4013, O: 780-392-3857, E: [email protected]
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