The Alberta Heritage Savings Trust Fund 2022-23 First Quarter Report was released on August 31, 2022.
It was a difficult quarter for the Alberta Heritage Savings Trust Fund. Over the quarter, the Fund value fell by 4.1% The fair value of investable assets declined by $0.9 billion, retreating from a high of $20.0 billion observed at the end of the last fiscal year.
The decline in value was driven primarily by public equity holdings, which represent 37.6% of the total Fund investments. Canadian and global developed equity investments declined by 11.6% and 11.9%, respectively.
Historically, fixed income and equity assets perform differently throughout various market cycles and add diversification benefits to the total portfolio. However, over the quarter, fixed income investments comprising 18.3% of the portfolio also declined by 4.6%.
Annual Reports (from 1976-77 to current)
Quarterly Reports (from 2005-06 to current)
Historical Timeline (updated quarterly)
Statement of Investment Policies and Goals (effective date January 1, 2021)
About the Heritage Fund
The Heritage Fund is Alberta’s main long-term savings fund. The Fund was established in 1976 to collect a portion of Alberta’s non-renewable resource revenue for future generations.
Today, the Alberta Investment Management Corporation (AIMCo) invests the Fund in a globally diversified portfolio across many assets classes, such as stocks, bonds, and real estate.
The income produced by the Fund supports government programs essential to Albertans like health care, education and infrastructure.
The Alberta Heritage Savings Trust Fund is unique to Alberta. No other province has such a 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
Evan Siddall, Chief Executive Officer, Alberta Investment Management Corporation (AIMCo)
Doug Wylie, FCPA, FCMA, ICD.D, Auditor General of Alberta
9th Floor, Federal Building
9820 107 Street
Edmonton, Alberta T5K 1E7
Contact your MLA
See contact information for your MLA at the Legislative Assembly of Alberta website.
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