Read on Twitter
This is your second daily pension announcement! Remember when Travis said that AIMCO will save beaucoup dollars due to economies of scale? I sure do.
The AIMCO "business case" claims costs will come in below 50 bps when ATRF is subsumed. #ABLeg #bullshit #travissucks
The AIMCO "business case" claims costs will come in below 50 bps when ATRF is subsumed. #ABLeg #bullshit #travissucks
For comparison we should use CPPIB which is roughly 4 times larger than AIMCO ($410 bil vs $103 bil). Being larger with roughly the same investment operation it should have lower costs.....
...but it doesn't. Costs for CPPIB right around 90 bps. #ABLeg
...but it doesn't. Costs for CPPIB right around 90 bps. #ABLeg
That's right. Cost is roughly double. So much for economies of scale.
(This was predicted by academic research that shows dis-economies of scale kick in above $100 billion. Thank Bill Morneau for the research.)
(This was predicted by academic research that shows dis-economies of scale kick in above $100 billion. Thank Bill Morneau for the research.)
That business case was bullshit anyways. Costs for AIMCO as a whole are immaterial. Travis should look at the costs for each pension plan invested by AIMCO. (LAPP has costs about 65 basis points.) #ABLeg #AIMCOfail
Long term, ATRF was projected to have costs only a basis point or two above LAPP and with better performance to boot! Look at net value Athana! #ABLeg
Now the DM job at Education is open, maybe Athana can be shuffled.
Now the DM job at Education is open, maybe Athana can be shuffled.
To quote another asset manager:
For LAPP, costs have trended upwards since AIMCo’s inception (from approximately 0.46% in 2008 to 0.65% in 2019) it is overly simplistic to make a blanket black-and-white statement that larger automatically means cheaper. #ABLeg #Travisfail
For LAPP, costs have trended upwards since AIMCo’s inception (from approximately 0.46% in 2008 to 0.65% in 2019) it is overly simplistic to make a blanket black-and-white statement that larger automatically means cheaper. #ABLeg #Travisfail
Bill 22 eliminates the possibility of LAPP (as well as PSPP and SFPP) choosing its investment manager in 2024 and beyond, which would allow for it to benefit from a competitive marketplace for investment management services. #ABLeg
The development of a robust institutional investment community with competing, high performing public sector plans (e.g., the model in Ontario) would enhance the vibrancy of the industry in Edmonton. Investment talent will not come here if they can only work at one place. #ABLeg
CPPIB believes that Canadians need to know what they are invested in and who their partners are.
AIMCO exactly the opposite. No disclosure of what or who. Someday I would like to understand how they take this position. Ask your MLA why this is... #ABLeg
AIMCO exactly the opposite. No disclosure of what or who. Someday I would like to understand how they take this position. Ask your MLA why this is... #ABLeg
