Albertans invited to learn about Heritage Fund progress

Alberta Government press release

With over 15 billion reasons to care about their Heritage Savings Trust Fund, Albertans can’t afford to miss the 2011 public meeting, to be held on October 20 in Edmonton. The annual meeting is hosted by the Standing Committee on the Alberta Heritage Savings Trust Fund and provides Albertans with insight into the management and progress of the fund.

Those unable to attend the Edmonton meeting are invited to tune in to the live broadcast of the meeting on Shaw TV or watch the webcast and participate in the online chat on www.assembly.ab.ca.


“The public meeting affords Albertans the rare opportunity to participate in conversations about the Heritage Fund with the committee and those who manage the fund on behalf of the province,” said committee chair Janis Tarchuk. “The fund belongs to Albertans, and we welcome their valuable feedback.”
When: Thursday, October 20, starting at 7 p.m.
Where: The Oasis Centre, 10930-177 Street, Edmonton

At March 31, 2011, the net assets held in the fund totalled $14.2 billion, at cost, and $15.2 billion, at fair value. At March 31, 2011, 50 per cent of the fund’s investments were invested in equities (e.g., stocks) followed by 26.3 per cent in money market and fixed income securities and 23.7 per cent in inflation sensitive and alternative investments. Total fund return was 10.4 per cent, which beat its total return goal of 8.8 per cent. The five-year return, which reflects the 2008 financial crisis, was 3.5 per cent, falling short of the fund’s target goal of 7.2 per cent.

Established in 1976, the Heritage Fund’s mission is to provide prudent stewardship of the savings from Alberta’s nonrenewable resources by providing the greatest financial returns on those savings for current and future generations of Albertans.