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AIMCo returns 5.8% in 2016, outperforming its benchmark

Alberta Investment Management Corp., Edmonton, returned 5.8% on its investments in 2016, helping raise its assets under management to C$95.7 billion ($71 billion) as of Dec. 31, according to its latest annual report.

The return was above its 5.5% custom benchmark return for the year. In 2015, AIMCo returned 9.1% vs. the benchmark's 7.2% return.

For the five years ended Dec. 31, AIMCo returned an annualized 9.5% vs. the 8.6% custom benchmark.

Total assets rose 6% from the end of 2015.

AIMCo, which manages provincial public pension and other assets in Alberta, saw its equity portfolio, at a 49% allocation, underperform its custom benchmark in 2016, according to the annual report. It returned 8.1% vs. the benchmark's 8.7% return.

However, its combined money market/fixed-income allocation (27%) and inflation-sensitive portfolio (24%), which includes infrastructure and real estate, outperformed their respective benchmark's. Money market and fixed income returned 2% and inflation-sensitive, 5.9%, vs. their respective 1.1% and 5.8% benchmarks.

The annual report is on AIMCo's website.