Chair Message

Mac Van Wielingen

The mandate of AIMCo’s Board has been to develop a leading global investment management organization to best serve our clients and the financial well-being of all Albertans.

Through my terms as a founding director, and since becoming Chair in December 2014, the board of directors has committed itself alongside AIMCo's Executive Team to realize the Province's vision. We are aligning strong governance, exceptional talent, a commitment to organizational excellence and the latitude to make investment decisions that best meet the long-term interests of our clients.

In 2014, AIMCo’s assets under management grew to $83.9 billion, on which a return of 9.9% or $7.6 billion was earned for our clients after all costs and fees. Despite significant volatility in the markets, AIMCo’s investment teams returned strong performance in most asset classes, in both public and private market investments.

AIMCo’s ability to satisfy stakeholder expectations is rooted in having a large, stable pool of capital, with a high level of return and risk alignment among clients. AIMCo is invested in our Clients, and they, likewise, are invested in us for our ability to earn a return aligned to their unique requirements. The collective assets we manage on their behalf provide all of our clients with a unique advantage in today’s investment markets.

Strong governance is critical to ensuring an organization of AIMCo’s scale and scope remains the most effective platform for our clients. Our board is committed to diversity and comprised of leading experts in finance, pensions and business.

Enduring success must include the quality of human experience as an essential outcome of success. It is about both results and relationships comprising both financial values and human values. AIMCo’s clients represent all Albertans and our pledge to them is to discharge our responsibilities effectively and with the highest possible level of professionalism and ethics.

On behalf of the board, we are pleased to welcome Kevin Uebelein as the new Chief Executive Officer of the AIMCo team. We look forward to working closely with him through the next phase of our organization’s development.

We thank outgoing CEO Leo de Bever for his unwavering commitment and dedication, Leo’s passion for investments and emphasis on innovation and has enabled AIMCo to become the established investment leader it is today.

The board of directors would like to acknowledge the important contributions of our founding Chair, Charles Baillie. Mr. Baillie served with great dedication since 2007 and has been a major source of inspiration and guidance for all of us. We also recognize the important influence of director Cathy Williams who retired from the board this year. Both individuals have tremendously influenced AIMCo’s evolution into the investment organization it is today.

Mac Van Wielingen

CEO Message

Kevin Uebelein

In its relatively brief history, AIMCo has delivered investment performance, attracted talent and grown its capabilities in ways that have made it a point of justified pride for Albertans. As its new CEO, I share that pride, and I am extremely pleased to set out our accomplishments - and our goals for the future - in this annual report.

Our ability to deliver a superior and satisfactory experience in every interaction with our clients is AIMCo's primary focus. For us, this focus begins and ends with delivering on our investment mandate. In my meetings with clients, they affirmed the appropriateness of this initiative and have offered their support in its realization. We are defining and setting our corporate strategy to ensure that the entire organization shares this dedication to our clients as our top priority.

Our commitment is to be both client dedicated and performance driven in all aspects of our business, always seeking continuous incremental improvement. Ultimately it is to be truly world-class, not only in benchmarking our returns but in all facets of our business compared to the best asset managers wherever they may exist. We will do this in a spirit of collaboration internally with all employees, and with our clients and all stakeholders.

AIMCo remains committed to seek out the best investment opportunities for our clients with careful consideration of their unique liability and risk-return profiles. We will strive to be a transparent and trusted advisor and will work closely to understand client needs. We will match those needs to our capabilities and ensure that long-term stakeholder obligations are satisfied.

Although we are inspired to always improve and advance, on a certain foundational level, the province’s vision to establish a public asset manager that is competitive on a global scale has been realized. AIMCo embraces all of the core components of what has been recognized globally as the “Canadian Model” and is well positioned for the future. This Model's components allow AIMCo to be structured with appropriate separation to allow optimal, unbiased investment decision making, with complete accountability and dedication to its clients; it provides AIMCo the sufficient scale to acquire globally-competitive talent and knowledge, to command market clout and achieve low management costs.

As important as any of these other components, AIMCo will always conduct its business The Right Way, adhering to the highest ethical standards, respecting our people and relationships and being responsible investors.

On behalf of the AIMCo team, I extend our thanks to the AIMCo Client Boards, the Province of Alberta and to all who supported our efforts in 2014. I would personally like to thank AIMCo’s clients, our Board of Directors and the talented team of professionals for welcoming me to the organization. I look forward to leading and delivering on our mandate of superior risk-adjusted net returns for our clients, and doing so within an environment of strong client engagement.

Kevin Uebelein
Chief Executive Officer

Our Team

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