The Alberta Investment Management Corp.’s investments declined four per cent during the second quarter of 2022, according to its quarterly report.
During the quarter, the AIMCo’s net investment income dipped $9.8 billion, to $136.6 billion. In the year ending on June 30, 2022, its assets declined 6.8 per cent.
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In a press release, the AIMCo said the losses stemmed from rising inflation, slowing global economic growth, lingering supply chain problems and energy issues creating a tumultuous investment environment.
It also highlighted the investment organization’s out-performance of internal return benchmarks, which had been set at negative 5.8 per cent for the quarter and negative 7.9 per cent for the year. Following the quarter, the AIMCo’s annualized rate of return reached 4.8 per cent on a four-year basis and 7.4 per cent on a 10-year basis.
“Our diversified portfolio is designed to create value over the long term, as is apparent in both our four- and 10-year net returns,” said Sandra Lau, co-chief investment officer, in the release.
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