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Alberta Investment Management Corporation

PRI reporting framework 2020

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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

Alberta Investment Management Corporation (AIMCo) is an agent of the Crown in right of Alberta and operates under the authority of the Alberta Investment Management Corporations Act, Chapter A-26.5. AIMCo provides investment management services in accordance with the Alberta Investment Management Corporations Act, primarily to the Province of Alberta and certain public-sector pension plans. The Corporation forms part of Alberta’s Ministry of Treasury Board and Finance for which the President of Treasury Board and Minister of Finance is responsible. Assets under management are invested in segregated investments owned by AIMCo's clients or aggregated in one or more pooled investment portfolios managed by AIMCo. Some of these assets are managed by third-party investment managers selected and monitored by AIMCo in order to achieve greater diversification, as well as to access external expertise and specialized knowledge. 

AIMCo operates independently and at arm's-length from the Government of Alberta, and it is governed by a professional board of directors that is independent from the Government of Alberta and AIMCo management. In providing investment management services to our clients, AIMCo acts in the best interests of our clients.


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Canada

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

460.80 FTE

02.4. Additional information. [Optional]

Our employees work out of AIMCo’s four offices, with headquarters in Edmonton. The team of talented professionals is committed to delivering excellence for our clients. Our global footprint allows us to attract top talent eager to work in a collaborative and dynamic environment.


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

AIMCo does not currently have any subsidiaries, and the creation of any such subsidiary would require approval by Order in Council. Although AIMCo has established many investment vehicles or "blocker corporations" for investment management purposes, such corporations are owned directly or indirectly (that is, as a subsidiary of a blocker corporation) by our clients and not by AIMCo.


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

04.5. Additional information. [Optional]

AIMCo provides investment management services to designated Alberta pension, endowment and government funds. It operates at arm's-length from the Government of Alberta and on a commercial terms.


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 10-50% 24.09 10-50% 14.60
Fixed income 10-50% 19.16 <10% 0.80
Private equity <10% 2.05 <10% 1.96
Property 10-50% 11.90 <10% 1.14
Infrastructure <10% 7.56 <10% 0.54
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry <10% 1.3 <10% 0.31
Farmland 0 0 <10% 0.11
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Money market instruments <10% 9.55 0 0
Other (1), specify <10% 4.59 <10% 0.27
Other (2), specify <10% 0.06 0 0

`Other (1)` specified

          Mortgages & Loans
        

`Other (2)` specified

          Tactical Overlays
        

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

Each of AIMCo’s clients operates within unique parameters and 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. Our clients' funds can be broadly categorized into two categories, Balanced Funds and Government & Specialty Funds.

Balanced Funds combine asset allocation and active investment management to earn higher returns. Diversification plays an important role in maintaining a level of portfolio risk that is appropriate to the client, as these funds can traditionally include relatively more aggressive investment strategies, which are implemented in a risk management framework.

Government & Specialty Funds tend to include larger amounts of operating capital, and therefore have a lower risk-tolerance to market fluctuations, and reduced risk relative to equities. These funds target short-term high-quality returns which can mean less volatility. Investments are primarily in fixed income assets and have a commensurately lower return expectation as a result.


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Private)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

93.1 Developed Markets
3.91 Emerging Markets
0.0 Frontier Markets
3.01 Other Markets
Total 100% 100.02%

09.2. Additional information. [Optional]

AUM by market provided by country of incorporation.


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