“This is a new, fully transformative funding model for our universities, universities and fachhochschulen. Our new approach will help students succeed by encouraging institutions to produce work-capable graduates. Students invest heavily in their post-secondary education and it is important that we do everything in our power to enable them to pursue rewarding careers at the end of their studies. By shifting the focus to performance, we will ensure that taxpayers` money is used in the most responsible way possible. 3. The Company may exclude investments from the plan fund from an investment management agreement under the subsection (2) where the invested funds are reasonably necessary to cover the company`s expected short-term liabilities and operating costs. b) investments made by or by another person. (2) Subject to subsections (3) and (4), the company must, for example, through an investment management agreement, if the University of Alberta has set a target of increasing its number of technology graduates by five per cent to only 80 per cent of that target, the government would provide only 80 per cent of the funds in the investment management agreement. Nicolaides said that in this example, his department always decided what would happen to the remaining 20% of funding – whether it would be “rewarded” by another institution that had achieved all its objectives or whether it would otherwise be invested in the institution that did not meet its target to help them achieve future indicators.

4. In the absence, at any time, of a permanent investment management agreement between the company and a notified body designated as part of an order, the Minister may, subject to the conditions set out in the regulations under which securities management services must be provided to the notified agency, set by decision the conditions set by regulation. 3. Subject to subsection (4), investment management services must be provided to a notified organization in accordance with a securities management agreement or the terms of the regulations or both. In June 2020, ATRF and AIMCo submitted a proposal to change the timetable for the completion of this agreement, which was accepted by the Government of Alberta. Given the complexity and workload associated with the development of such an agreement, which were reinforced by the challenges of the COVID 19 pandemic, the closing deadline was adjusted to October 31, 2020.