Billions in underperformance by AIMCo, and this AM the Alberta Heritage Savings Trust Fund Committee meets to discuss the Annual Report. But the Chief Executive Officer and Chief Investment Officer are a no show 🤦♀️ #ableg #handsoffmypension
For 7 years and 26 straight meetings in a row, the CEO or the CIO have shown up & taken responsibility for their stewardship of our Heritage Fund. But not today, and results aren’t good #ableg #handsoffmypension
Last calendar year, Canada Pension Plan Investment Board delivered a 12.1% return vs AIMCo's 2.5%. What does that mean? In one year, that underperformance cost Albertans $11.4 billion #AbLeg
Let’s be clear, that’s more than eight KXL-sized screw-up in one year. And yet senior AIMCo officials won’t even show up to a committee of the legislature and explain themselves. That’s not acceptable #ableg
Despite these terrible results, on a donor call with UCP insiders on May 27, Kenney said: “I’ve actually personally become increasingly bullish and supportive of the prospects of an Alberta Pension Plan."
Like most Albertans, my reaction was 🤯 #ableg
Like most Albertans, my reaction was 🤯 #ableg
That’s right, Kenney wants to pull out of the best performing global asset manager (CPP) and hand it over to AIMCo, an org that the Institutional Investor calls “amateurish” #AbLeg
Today we’ll do our best to try and get some answers – any answers – out of AIMCo from the junior officials. You can follow along here: assemblyonline.assembly.ab.ca/Harmony/en/Pow… #AbLeg
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