TORONTO (Reuters) - Canada’s Alberta Investment Management Corp (AIMCo) said it performed better in 2015 than in any year since its inception in 2008, with investments in real estate and infrastructure outperforming benchmarks.
AIMCo achieved an overall rate of return of 9.1 percent and a 10.1 percent rate after stripping out government and specialty fund clients for managing short and medium-term fixed income assets and for liquidity management.
AIMCo, which manages pension and government funds for the oil-rich province of Alberta, said overall investment income was C$7.5 billion ($5.75 billion) from total assets under management of C$90.2 billion. The performance exceeded its investment benchmark by over C$1.5 billion, it said.
AIMCo said investment teams in public equities, infrastructure, private equity and real estate all significantly outperformed their market benchmarks.
Like other Canadian pension funds, AIMCo has invested in real estate and infrastructure as an alternative to low-yielding government bonds.
“This result is further evidence that the ‘Canadian model’ of public asset management is one that very well serves the needs of the public,” said Chief Executive Officer Kevin Uebelein.
Reporting by Matt Scuffham