The $160-billion fund cut nearly 20 non-investment positions, including one DEI-related role, Alberta Investment Management Corp. spokesperson Carolyn Quick confirmed in an email. BNN Bloomberg first reported the news. (The Logic, BNN)

Talking point: The layoffs follow the Alberta government’s decisions to fire AIMCo’s entire board in November, and later appoint former prime minister Stephen Harper as the new chair. The move—a rare example of the provincial government muscling into the pension fund’s operations—was driven by concerns over AIMCo’s lacklustre returns and rising costs. The fund posted an $8.9 billion return in 2023, 1.4 percentage points below target, while costs increased from $129.7 million in 2019 to $223.3 million in 2023.