The Alberta Investment Management Corporation (AIMCo) — the province’s government-owned pension management fund — confirmed Thursday in a letter from the pension manager’s CEO that losses from a bet on market volatility have led to a loss of $2.1 billion.
The economic devastation from the coronavirus pandemic already is estimated to top $1.7 billion at the Big Ten universities, which include some of the nation’s leading public research institutions.
The Treasury secretary ordered elite schools with “significant endowments” to return loans intended to help small businesses pay employees during the coronavirus pandemic. Some are resisting.