EDMONTON, Sept. 15, 2017 /PRNewswire/ - Alberta Investment Management Corporation (AIMCo) is pleased to announce that it has concluded discussions with the Government of Alberta on a formalized Mandate and Roles Document (MRD). The MRD, pursuant to Alberta's Public Agencies Governance Framework, fulfills the obligation that all agencies have clearly articulated roles and responsibilities.
AIMCo's Mandate and Roles Document was created collaboratively between the Honorable Joe Ceci, President of Treasury Board and Minister of Finance, and the AIMCo Board, represented by Board Chair Mr. Mac Van Wielingen and Governance Committee Chair, Ms. Andrea Rosen. The outcome is an MRD that provides a clear articulation of the role of the public agency with respect to its relationship to government, and which outlines the goals and performance expectations of the Minister.
"On behalf of Board of Directors and Management of AIMCo, I am pleased to have reached this critical agreement with the Government of Alberta, which represents an important element of sound governance," states AIMCo Chair, Mac Van Wielingen. "This agreement provides transparency and codification of a set of commitments made by AIMCo and the Government of Alberta. It corroborates and confirms that AIMCo will continue to operate independently, will continue to have a diverse board of appropriately qualified individuals who together will satisfy requirements for specific competencies, and that the Board recruitment and nomination process will align to the Alberta Public Agencies Governance Act and applicable policies established by the Government of Alberta, yet still be consistent with best practices expected for a globally competitive institutional investment manager such as AIMCo."
For further information, a copy of the Mandate and Roles Document is available to the public on the Alberta Investment Management Corporation website, located in the Governance section, under the Who We Are heading. www.aimco.alberta.ca/Who-We-Are/Governance
About Alberta Investment Management Corporation (AIMCo)
AIMCo is one of Canada's largest and most diversified institutional investment managers with more than $100 billion of assets under management. Established on January 1, 2008, AIMCo's mandate is to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 32 pension, endowment and government funds in the Province of Alberta.
For more information, please visit www.aimco.alberta.ca.
SOURCE Alberta Investment Management Corp.