Capital Allocators – Inside the Institutional Investment Industry Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Sep 11, 2023
Marlene Puffer, the CIO of Alberta Investment Management Corporation (AIMCo), manages $160 billion in assets across various funds. She shares her journey from academia to the finance world, highlighting key investment strategies. The conversation dives into AIMCo’s asset-liability matching strategy, the unique governance of Canadian pensions, and the intricacies of compensation models that align with client interests. Marlene also discusses strategic partnerships in investment management and the importance of risk management in evolving markets.
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Early University Life
- Marlene Puffer started university at 15, guided by a counselor who recognized her potential.
- She initially pursued math and languages but discovered a passion for applied mathematics within economics and finance.
From Academia to Practice
- As a 26-year-old professor, Marlene Puffer felt imposter syndrome due to her lack of practical experience.
- She learned from her students' real-world experiences, especially in currency trading.
Bay Street Experience
- Marlene Puffer enjoyed working on the trading floor, learning the inner workings of capital markets.
- However, she found the focus on profits for the bank less motivating.