Thread by @yomeeks

This is your daily pension announcement! Happy Canada Day from The Pension War Room™️. I just want to let you know that we are looking forward to an active year in the pension landscape! We will continue to be **here** for you with analysis and salty commentary. #AbLeg #redouble

That paragraph snip above is from the @aimcoinvests "business case" for destroying a top quartile investment manager here in good ol 'berta. I think it is the paragraph of complete 💩🐂that put Travis over the edge. #AbLeg

Why would Kevin (CEO at the time) do that? Well he and his executive team stood to gain millions in compensation as the assets under management increased. #ABLeg

So looking forward to the @aimcoinvests Annual Report. It will be significant in both good ways and bad.

If you are a member of LAPP, SFPP, or PSPP remember that the fiduciary and trustee of your retirement savings no longer has the ability to fire @aimcoinvests for poor performance. Athana Mentzopoulous, the DM of TBF, framed it as "nothing has changed". 💩💩💩 #AbLeg

To quote the SFPP Board:
"An SFPP Corporation study indicates that AIMCo’s fees are comparable to external managers. In operation however, AIMCo has issues with alignment and dis-economies of scale." #AbLeg

And one more time for Travis:
"AIMCo has met the four-year rolling active management target four times in the last ten years. This is further evidence for subpar investment performance as AIMCo’s management has failed to meet the SFPP Board’s expectation on a consistent basis.

I would also point out, the only reason we know the opinions of various pension boards is because @ChristinaNDP brought forward Bill 203 the Pension Protection Act to deal with these issues. #Ableg

One can not say thank you enough.