Thread by @yomeeks

This is your daily pension announcement. The Pension War Room™️ brings you the quotes from Travis Xmas gift edition! He may not be publicly answering questions but I have been given a few of his replies to constituents. #ABLeg

By all means continue to write to Travis. He hates it.
To quote:
"Government believes that having ATRF’s assets managed
by AIMCo will benefit ATRF significantly in the long-term."

Yes, he really said that.

What the GOA believes is irrelevant. ATRF is the trustee of the funds.

@jkenney said this too in a TV clip. He believes it is the GOA's sole prerogative to decide on investment manager. The pair of them need to read the Teachers' Pension Plan Act where the ATRF Board is appointed as the manager. #ABLeg

Travis presents some limited information about rate of returns.
"Neither ATRF nor AIMCo can claim, based on the data above, that their performance is clearly superior."
Sigh.
That is because the data you have presented is shit. No study was conducted so no solid data exists.

Travis does admit:
"Comparing investment returns is an inherently difficult
exercise, due to differences in factors such as strategic asset mixes, risk tolerances and year ends between funds, among other issues." #ABLeg

Difficult, as in more difficult than flipping open an annual report. But, not impossible by any means. Why are you paying for CFA holders as employees if you don't use them? #ABLeg

"AIMCo was asked to write the business case because they are government’s investment experts."

Travis should regret saying that in light of recent events.

Not only was AIMCO put in the mother of all conflicts of interest, they were placed in a political trap. #ABLeg

You and I should be more worried that the upper reaches of AIMCO are populated with UCP supporters. Which is apparently why their compensation is getting a free pass.

Astroturf articles about #YYCCC are showing up but no one asks why AIMCO has two LTIPs? (bonus plans) #ABLeg

BTW, you have a right to know what severance is being paid to Kevin for leaving AIMCO "a few months early". You are not likely to find out until the spring of 2022 in the Annual Report. Long after the horse is out of the barn. #ABLeg

It is funny that Athana's (DM at TBF) contract is available online but nobody at AIMCO is. I really think you need to ask your fiscally conscious MLA about that. #ABLeg

I will finish today with a quote (from a while back) featuring David Denison (CPPIB at the time):
#ABLeg
He shares our concerns.

"One of the concerns that is sometimes raised about funds that are perceived to have some government influence in their operations is that those funds may be used for public policy goals rather than economic or
return goals."
#ABLeg

"This was certainly a concern voiced by Canadians at the time of the creation of the CPP Investment Board and our governance model is instructive in this regard because it was designed specifically to protect against political interference ..." #ABLeg

Remember than when @jkenney is trying to separate AB from CPP for political purposes. #AbLeg

Keep your boots on the ground. The future of AB depends on it. I hope we can return to a time when evidence matters.