Sep 8, 2021

AIMCo Signs Investment Management Agreement with Alberta Teachers’ Retirement Fund

Alberta Investment Management Corporation (AIMCo) is pleased to announce that it has entered into an investment management agreement (IMA) with the Alberta Teachers’ Retirement Fund (ATRF). The agreement follows collaborative discussions between the parties to define how they can work together to ensure that AIMCo best serves the interests of ATRF and its members.

The new IMA clarifies the respective roles of ATRF — as the owner of the pension’s assets, with the fiduciary responsibility to protect and grow these funds — and AIMCo — as its agent, with discretion to apply its investment expertise within ATRF’s defined policy limits.

“Today’s agreement marks a point of departure for AIMCo as a multi-client investment manager. Our top priority is helping our clients to secure long-term prosperity for the people of Alberta they represent,” said Evan Siddall, AIMCo Chief Executive Officer.

“My colleagues and I will now devote our attention to a smooth transition of ATRF’s assets by December 31, 2021 so that we can help mind the retirement savings of ATRF’s most important constituent — Alberta’s retired and active teachers,” adds Siddall.

“We are pleased to have reached agreement on an IMA that will enable ATRF to continue providing the strategic policy direction for our plans’ investments, and establishes a strong framework which will enable AIMCo to implement ATRF’s strategic direction,” said Rod Matheson, ATRF Chief Executive Officer.

“We look forward to a constructive and collaborative relationship with AIMCo going forward.”

The IMA signed on September 3, 2021, takes effect immediately and follows the formal approval process of the Boards of Directors of both ATRF and AIMCo. It replaces Ministerial Order No. 42/2020, which has governed the investment management relationship between the two organizations since January 1, 2021.