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Alberta governmentfinancialpost
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70% Informative
Alberta Investment Management Corp. (AIMCo) removed its entire board of directors and CEO this week .
The provincial government said it was driven by rising costs at the Crown corporation.
But three pension veterans familiar with events say there was more going on behind the scenes than scrutiny of costs.
Alberta Premier Danielle Smith is preparing to unveil her government’s plan to boost the size of the AIMCo-managed Heritage Savings Trust Fund , which, according to its website, “produces income to support government programs essential to Albertans .
AIMCo posted an overall return of 6.9 per cent in 2023 , despite challenges in its real estate portfolio.
The asset manager ended the year with $160.6 billion in assets under management.
Industry sources say the company's costs are in line with industry standards.
VR Score
76
Informative language
77
Neutral language
16
Article tone
semi-formal
Language
English
Language complexity
59
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
9