“All Albertans should find NDP interference in AIMCo deeply concerning, especially considering this arm’s length agency manages more than $90 billion in public funds including the Heritage Fund and public sector pensions,” said McIver. “That is why I have asked the Auditor General to take a closer look at the NDP’s recent actions with respect to AIMCo governance.”
Earlier this year, the NDP quietly issued an Order in Council which repealed Sections 5 and 6 of the Alberta Investment Management Regulation. Section 5 required all members of the AIMCo Board of Directors to have relevant knowledge and expertise. Section 6 mandated the establishment of a nominating committee to advise the Minister on appointments to the Board and restricted potential candidates to the committee’s short list.
“It’s clear that with the repeal of Sections 5 and 6 of the Regulation, along with multiple emails showing direct interference from the Premier’s Office relating to the Alberta Growth Mandate, the NDP have set their sights on our savings as a way to finance the implementation of their risky agenda,” said McIver. “AIMCo’s mandate has always been to seek the best possible return on investment for Albertans and recent NDP actions have put that mandate in jeopardy. We are confident that this investigation will help protect AIMCo’s integrity and independence – for the good of all Albertans.”