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Alberta Investment Management Corp. says it earned a 14.7% return last year to post its strongest year ever.

The result easily beat the investment manager’s benchmark of 8.0% for the year to help bring its total client assets under management to $168.3 billion at the end of 2021.

AIMCo invests on behalf of 32 pension, endowment and government funds in Alberta.

The money manager’s public equity investments gained 23.4% in 2021 and its private equity holdings rose 65.9%, while its money market and fixed-income investments lost 1.1%.

The fund’s real estate investments gained 19.0% and its infrastructure investments rose 19.0%. Renewable resource investments returned 15.0%.

AIMCo says its annualized total fund returns over four and 10 years are 7.4% and 8.6%, respectively.