Former AIMCo Chair Denies Misinformation

This is a Alberta news story, published by financialpost, that relates primarily to Kroner news.

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Alberta cabinet minister

financialpost

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Fired AIMCo chair disputes Alberta’s narrative on costs in letter to Horner

Summary

Nutrition label

73% Informative

Alberta Finance Minister Nate Horner fired Kenneth Kroner as interim chair of Alberta Investment Management Corp. Kroner disputes the data and assertions used to justify the government’s “reset” at AIMCo.

The entire board of directors, including Kroner , as well as chief executive Evan Siddall , were removed from their posts last week .

Kroner was on the board for eight years and had been acting chair since the beginning of this year .

Kroner says government figures are being used to tarnish AIMCo’s reputation.

He says fees went up at a much slower pace than assets, and fees dropped by a third over the 2019 to 2023 period.

Kroner said headcount increases reflect client request for a near doubling of illiquid investments such as real estate, private equity and infrastructure.

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Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful