CANADA - Alberta Investment Management is to be separated from the Department of Finance to manage public monies including the province's C$26.95bn of pension fund assets as a stand-alone entity.
The move to create the Alberta Investment Management Corporation was put in front of the Alberta Legislative Assembly in Bill number 22 and is expected to be passed.
Under the terms set forth in the bill, the new entity will have a board of directors consisting of not more than 11 members, although no names have yet been put forward.
The corporation will also have the right to establish and maintain one or more reserve funds.
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