The LAPP fund is invested by Alberta Investment Management Corporation (AIMCo), which is one of Canada’s largest and most diversified institutional investment managers with more than $90 billion of assets under management. AIMCo is a crown corporation of the government of Alberta and is also responsible for the investments of 25 other clients including the Alberta Heritage Savings Trust Fund. LAPP is AIMCo’s largest client.
AIMCo provides the day-to-day services for LAPP’s investment portfolio by investing LAPP’s assets, currently $40 billion, for the benefit of all LAPP members. AIMCo has top professionals with global experience in investments, operations and risk management and a strong record of delivering results.
LAPP’s assets are invested by AIMCo based on direction set by the LAPP Board of Trustees through an investment policy known as the SIP&G (Statement of Investment Policies and Goals). The SIP&G is reviewed on an annual basis and decisions are made by the Board about the mix of assets held by the fund.
LAPP has a diversified portfolio designed to reflect the risk appetite of the Board. The Board’s investment objective is to grow its assets each year at a rate at least equal to any increase in the cost of providing pensions to all our current members, today and in the future. To support this objective, the asset mix flows from the Plan’s Long-Term Funding Strategy and it is aimed at producing the best investment return possible within the risk tolerance set by the Board for the Plan.