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The Alberta Heritage Savings Trust Fund 2022-23 Second Quarter Report was released on November 24, 2022.
Over the quarter, performance was flat; however, fiscal year to date, the Fund is down 4.2%. The net financial assets of the Heritage Fund have fallen from $18.7 billion at March 31, 2022 to $17.9 billion at September 30, 2022.
Historically, fixed income and equity assets perform differently throughout various market cycles and add diversification benefits to the total portfolio. The worsening economic outlook, combined with increases in interest rates, have resulted in negative returns in equity and fixed income assets during the same time frame.
The Heritage Fund is focused on long-term results. Over the last 10 years, the Heritage Fund earned a return of 8.5%, while the target real return was 6.3%.
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 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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