Alberta Investment Management Corp.’s balanced fund earned 8% in 2023, falls short of benchmark

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Alberta Investment Management Corp.,Invest,Money

Alberta Investment Management Corp. says its balanced fund earned a net return of 8.0 per cent for 2023, short of its benchmark return of 9.3 per cent.

Alberta Investment Management Corp. CEO Evan Siddall speaks in Calgary on Wednesday, Sept. 21, 2022. The Alberta Investment Management Corp. has set up a new $1-billion fund dedicated to investing in the global energy transition and decarbonization sectors.

The investment manager says its public equity investments earned 15.8 per cent, while its fixed income holdings earned 7.7 per cent. The firm’s private equity portfolio generated a return of 6.7 per cent, while infrastructure investments earned 3.8 per cent and its renewable resources portfolio returned 1.6 per cent.

AIMCo’s real estate portfolio lost 8.4 per cent, while mortgages earned 4.5 per cent and private debt and loan holdings returned 9.6 per cent.AIMCo, which had $160.6 billion in assets under management at the end of 2023, invests on behalf of pension, endowment, insurance, and government clients in Alberta.“During 2023, persistently high inflation and interest rates and challenging geopolitical factors combined to affect global markets,” AIMCo chief executive Evan Siddall said in a statement.

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