Alberta Heritage Fund

Canada – Alberta US$ 17.5 Billion
Established: 1976
Transparency Rating: 9
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Origin: Oil
Firm Investment Style: Mixed
Entity Structure: Fund
Pop Est.: 3.759 million – 2013 Alberta
Wealth Per Capita Est.: $4,655

Alberta Heritage Fund
Summary
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

Background
During the early 1980s, the fund made loans to other provincial governments in Canada. Later the fund’s money was used for capital infrastructure projects. After 1987 resource royalty revenue was no longer added to the fund.

The fund was originally designed for economic development, but now primarily it is a long-term savings and investment fund.

Main Office
Alberta Investment Management Corporation
1100 – 10830 Jasper Avenue
Edmonton, Alberta T5J 2B3
Canada
Tel: 1-780-392-3600

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Strategy & Objectives
As of 2007, the sovereign wealth fund is invested in stocks, bonds, real estate and alternative investments, with the aim of generating revenue for the province.

Governance
It is governed by Alberta’s Treasury Board and Finance by the Alberta Heritage Savings Trust Standing Committee.

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.

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