The official opening Tuesday of AIMCo's new Singapore office marks the first foray into the Asia-Pacific region for what is one of Canada's largest institutional investors, with $158 billion of assets under management as of 2022.
But Siddall said Asia is important, as many countries there have economic growth that's outstripping that of the U.S and Europe. AIMCo is lagging behind many other Canadian institutional investors when it comes to establishing a foothold in Asia. A report by the Asia Pacific Foundation of Canada found that between 2003 and 2017, Canadian pension funds invested $25 billion in the region.
According to a Reuters report earlier this month, the Canada Pension Plan Investment Board has laid off at least five employees at its Hong Kong office as it steps back from deals in China.
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