| City Hall is contemplating significant changes to how it invests up to $160 million in reserve funds related to utility infrastructure and energy exploration. On Tuesday the corporate services committee gave initial approval to negotiate a fund-management agreement with AIMCo, the Alberta government’s sovereign wealth fund that includes the Heritage Trust Fund and billions more in public sector pension funds.
The item will go to city council for debate and approval on March 16 after committee members endorsed the plan while admitting the change adds risk but also the possibility of higher returns. “We have to morph with the times, which we’ve done over the past 100 years,” said committee chair Robert Dumanowski. “It’s a huge move in the right direction.”..............................................Full Article: Source
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