The Alberta Investment Management Corp. is reporting an annual return of negative 3.4 per cent for 2022, citing declines in public equities and fixed income.

The investment organization exceeded its benchmark by 1.8 per cent, with total client assets under management at $158 billion, according to a press release announcing its annual results.

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The AIMCo’s public equities portfolio returned negative 10 per cent for the year, while its money market and fixed income portfolio returned negative 8.1 per cent. Conversely, its infrastructure, renewable resources and real estate portfolios posted returns of 16.8 per cent, 25.7 per cent and 4.6 per cent, respectively.

“With high inflation, rising interest rates and unprecedented declines in both public equities and fixed income markets taking place simultaneously, 2022 was an extremely challenging year for investors,” said Evan Siddall, chief executive officer at the AIMCo, in the release. “The strength of our investment team mitigated the impact of these unique markets, allowing AIMCo to outperform.”

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