Thread by @yomeeks

This is your daily pension announcement: The Management Employees Pension Plan edition! Unlike the teachers' plan, MEPP only has one sponsor namely Travis. So he can (and does) make unilateral decisions here. (Fun fact, AIMCO managers used to be members of this plan.) ##ABleg

First important fact, is that it is almost 2021 and they have not yet posted their 2019 Annual Report. Interesting choice. If you were a member of the plan you might want to inquire as to why that is. #ABLeg #travisfail #hidesomething

Next, I know this question is on your mind, how badly did the VOLTS debacle affect MEPP? Take a look @premiamgmt it is not pretty. #ABLeg #AIMCOfail

Take a look at the long term 8 year value add, it is NEGATIVE (-0.55%). I truly agree that things like COVID can give you short term bumps in the road. But this lets you know how exposed this fund was to VOLTS. #ABLeg #manthatsucks

So you could have fired all the investment managers 8 years ago, indexed the lot and still come out ahead today and for what appears to be several more years in the future. #ABLeg

MEPP is in an excellent funded position, so no worries about that.

The above includes reason alone to part ways with Kevin. Never mind the AIMCO Stupid business case where they suggest they will bring the cost of investment for ATRF down to 58 basis points. #ABLeg

In 2018 (the most recent year available) the cost of AIMCO investment management for MEPP was 70 basis points. Which is barely any savings over the long term cost projection of ATRF of 71-73 bps. Is someone going to take responsibility for this little fib? Kevin? #ABLeg

Any MEPP members with questions feel free to DM me. I will do my best provide insight.

Another fun fact, the TBF business case has no date on it but was written after the fact. AND it has typos in it. Pretty weird for an official GOA document. #ABLeg

I will also make my prediction about the next CEO at AIMCO: most likely male from an Eastern financial center like Toronto or New York. It won't be anyone from the current executive team. Could carry a Canadian passport but will more likely be an American carpetbagger. #ABLeg