Heritage Savings Trust Fund

Latest update

In the first quarter of 2023-24, the Alberta Heritage Savings Trust Fund (Heritage Fund) earned a 2% return with a net investment income of $739 million. The Heritage Fund's fair value of net assets as of June 30, 2023, was $21.6 billion, an increase from the $21.2 billion recorded at the end of the previous fiscal year.

The Alberta government is committed to growing the Heritage Fund, which is Alberta’s long-term savings account. The Alberta Heritage Savings Trust Fund Act was amended in the spring 2023 legislative session to make it easier to retain investment income within the Heritage Fund. Alberta’s government can retain all the Heritage Fund investment income unless a withdrawal of some portion of the investment income is authorized by Treasury Board. Earnings to inflation-proof the fund must remain in the fund.

Over five years, the fund returned 6.4%, which is 0.6% above the return of its passive benchmark.

The Alberta Heritage Savings Trust Fund 2022-23 Third Quarter Report was released on February 28, 2023. The link to the Alberta Heritage Savings Trust Fund 2023-24 First Quarter Report will be added when it has been reviewed and approved by the Standing Committee.

Publications

Annual Reports (from 1976-77 to current)

Quarterly Reports (from 2005-06 to current)

Statement of Investment Policies and Goals (effective date January 9, 2023)

About the Heritage Fund

The Heritage Fund is Alberta’s main long-term savings fund. The Heritage Fund was established in 1976 to collect a portion of Alberta’s non-renewable resource revenue for future generations. The Heritage Fund is unique to Alberta. No other province has a similar fund.

The Alberta government is committed to growing the Heritage Fund. In spring 2023, the Alberta Heritage Savings Trust Fund Act was amended to make it easier to retain investment income within the Heritage Fund. Alberta’s government can retain all the Heritage Fund investment income unless a withdrawal of some portion of the Heritage Fund investment income, after inflation proofing, is authorized by Treasury Board.

The Alberta Investment Management Corporation (AIMCo) invests the Heritage Fund in a globally diversified portfolio across many asset classes, such as stocks, bonds, and real estate.

Legislation

See the Alberta Heritage Savings Trust Fund Act.

Glossary

See commonly used terms related to the Heritage Fund.

Committee and others responsible for management

Standing Committee on the Alberta Heritage Savings Trust Fund

To view the current members of the Heritage Fund Standing Committee, meeting information and contact information, please visit the Standing Committee website.

Treasury Board and Finance Contact

Lowell Epp, Assistant Deputy Minister, Treasury and Risk Management, Alberta Treasury Board and Finance

Investment Manager

Evan Siddall, Chief Executive Officer, Alberta Investment Management Corporation (AIMCo)

Auditor

Doug Wylie, FCPA, FCMA, ICD.D, Auditor General of Alberta

Contact

Hours: 8:15 am to 4:30 pm (open Monday to Friday, closed statutory holidays)
Phone: 780-427-3035
Toll free: 310-0000 before the phone number (in Alberta)

Address:
Heritage Fund
9th Floor, Federal Building
9820 107 Street
Edmonton, Alberta  T5K 1E7

Online

Government of Alberta feedback form

Contact your MLA

See contact information for your MLA at the Legislative Assembly of Alberta website.