Canadian pension fund manager ventures into Asia

However, AIMCo CEO says that it is ‘not rushing into China'

Canadian pension fund manager ventures into Asia

Canadian pension fund manager Alberta Investment Management Corporation (AIMCo) has taken a step into the Asian market by opening its first regional office in Singapore. 

AIMCo oversees global investments on behalf of 17 pension, endowment, and government funds within the Canadian province of Alberta. Heading the new Asia Pacific office is Kevin Bong, formerly a managing director at Singaporean sovereign wealth fund GIC. 

Evan Siddall, CEO of AIMCo, expressed the organization's commitment to long-term growth opportunities in the Asia-Pacific region.  

"We believe the long-term growth opportunities in Asia-Pacific are compelling and well-aligned with AIMCo’s long-term investment horizon," he said, as quoted in Reuters

Marlene Puffer, chief investment officer of AIMCo, emphasized that establishing an office in Singapore represented a move to strengthen ties with investment partners and further expand their global asset portfolio.  

“We see Singapore as the financial hub of the region, and this market is full of opportunity for our patient, long term capital. This office will really be a key enabler of our new partnerships approach,” she said, as quoted in AsianInvestor

Puffer also underscored AIMCo's commitment to diversification, especially in the Asian region, with a focus on three private asset classes: private equity, infrastructure, and real estate. 

“We have a strong base in Canadian fixed income, but the rest of our assets are widely diversified, and we intend to be increasingly diversified, particularly in Asia,” she said. 

AIMCo joins a growing list of global asset managers that have established a presence in Singapore, seeking alternative bases to China due to increasing geopolitical tensions and China's slowing economic growth.  

In Canada, pension funds have faced heightened scrutiny from Canadian authorities regarding their investments in China.  

In an interview with The Canadian Press, Siddall emphasized that “AIMCo is not rushing into China”.