Mercer's says through COVID the average Canadian pension fund has lost 8.1%. The G&M yesterday (and LAPP confirmed) said that AIMCo lost $4 billion (~4%) ON TOP of normal market volatility. #ABLeg
The $4 billion has just evaporated. It is not like your stocks have gone down in price and you can wait for them to recover post-COVID. This money is gone. #ABLeg
And, apparently, AIMCo has already concluded this loss was non-criminal. So it was not a rogue trader. #ABLeg That lets you know how unique this situation is.
BTW AIMCo will not invest ATRF assets and earn a higher rate of return. No risk adjusted comparison