Alberta Heritage Fund
|Canada – Alberta||US$ 17.5 Billion||Origin: Oil|
Transparency Rating: 9
View Sovereign Fund Transaction Data
|Firm Investment Style: Mixed
Entity Structure: Fund
Pop Est.: 3.759 million – 2013 Alberta
Wealth Per Capita Est.: $4,655
Other Offices[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
Strategy & Objectives
Assets for the Alberta Heritage Fund are currently managed by the Alberta Investment Management Co. (AIMCo). AIMCo was formerly part of the Ministry of Finance of Alberta before transforming into a provincial crown corporation in 2008 that is now providing investment management to a variety of public sector funds and endowments.
The Alberta Heritage Savings Trust Fund was created in 1976 by the Alberta Heritage Savings Trust Fund Act. Initially, the fund received 30% of Alberta’s non-renewable resource royalties which comes from its vast oil wealth.
This fund was created with several goals in mind.
Investment for Future Generations
Strengthen and diversify the economy
Improve quality of life
A Rainy Day Fund
The fund was originally designed for economic development, but now primarily it is a long-term savings and investment fund.