Leo de Bever Warns of Storm Clouds Ahead?
Gary Lamphier of the Edmonton journal reports, AIMCo boss warns of storm clouds ahead for financial markets : I wouldn’t want Leo de Bever’s job. Oh sure, it pays well. And as CEO of Edmonton-based Alberta Investment Management Corp. (AIMCo) you get to play with real money. We’re talking nearly $70 billion of public sector pension, endowment and government financial assets. Running a pile that big must be quite a rush — on a good day, anyway. On a bad day? Not so much. Alas, the global economy and world equity markets have endured more than a few bad days lately, with many more to come. When your portfolio can rise or fall by as much as $300 million by supper time, it requires someone with ice in his veins to manage it. De Bever certainly qualifies, and that’s a key reason why AIMCo managed to post a healthy 7.4 per cent net return on assets for the fiscal year ended March 31. Thanks to big gains in real estate (22.8 per cent), real return bonds (16.3 per cent) and private equity