Canadian pension funds like energy stocks "Low commodity prices are an opportunity to make more investments in the oil and gas sector, not less, according to the corporation that controls $96 billion in Alberta government pension fund assets.
“AIMCo is not considering selling out of its position in the energy industry,” Denes Nemeth, spokesperson for the Alberta Investment Management Corp., said in an email on Friday.
“The energy sector has been hard hit by the low price of oil, in particular in Alberta, and AIMCo has been active in identifying and investing in strong companies that are well-positioned to weather the current downturn.”
He said AIMCo is a long-term investor which is using its equity position in energy companies to encourage the adoption of environmental best practices as part of its climate change strategy.