Alberta Investment Management Corp. reported a loss of 3.4% for 2022 as it faced declines in both public equities and fixed-income markets last year.
The fund manager responsible for the investments of pension, endowment and government funds in Alberta says the result was better than its composite benchmark, which posted a loss of 5.2% for the year.
Total client assets under management were $158 billion in 2022.
The loss for the year came as the fund’s money market and fixed-income investments lost 8.1%, while its public equity investments fell 10.0%.
The losses were offset by the fund’s real estate portfolio, which returned 4.6%; its infrastructure investments, which gained 16.8%; and its renewable resource investments, which returned 25.7% for the year.
AIMCo’s private equity investments gained 0.5%.