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While 2020 was tough on just about everyone, the Alberta Investment Management Corporation (AIMCo) really took it on the chin. Alberta鈥檚 public pension fund manager lost billions of dollars in a volatility-based trading strategy during a topsy-turvy year in markets. The losses undermined public confidence in AIMCo, and the province鈥檚 Finance Minister Nate Horner recently dismissed AIMCo鈥檚 entire board, appointing a veteran public servant to serve as the organization鈥檚 interim CEO. The government of Alberta ostensibly intended to restore confidence in the fund, but the move might not have the desired effect, according to Sebastien Betermier, Associate Professor of Finance at 海外直播b站 Desautels. 鈥淚t鈥檚 a move against independence, and the ability to work at arm鈥檚 length from government,鈥� Betermier tells CBC. The instability could also ultimately backfire, giving potential partners pause about working with AIMCo on projects with long-term investment horizons.