Latest update
2023-24 Third Quarter Heritage Fund update
In the third quarter ending December 31, 2023, the Heritage Fund earned a return of 4.0%
The Heritage Fund’s fair value of assets on December 31, 2023, was $22.1 billion, an increase from the $21.2 billion recorded at the end of the previous fiscal year.
Publications
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 was established in 1976 to collect a portion of Alberta’s non-renewable resource revenue. The Heritage Fund had 3 objectives at the time:
- Invest in projects that would improve life in Alberta but would not provide a financial return.
- Strengthen and diversify the Alberta economy.
- Save money for the future when non-renewable resources had been depleted.
The initial investment in the Heritage Fund was $1.5 billion, which has grown to $22.1 billion as of December 31, 2023.
The Alberta Heritage Savings Trust Fund Act creates and establishes the mandate and governance structure for the Heritage Fund. The act states that the mission of the Heritage Fund is to provide prudent stewardship of the savings from Alberta’s non-renewable resources by providing the greatest financial returns on those savings for current and future generations of Albertans.
In spring 2023, the act was amended to allow the Heritage Fund to retain all its investment income within the Heritage Fund. Investment income is retained within the Heritage Fund unless Treasury Board approves a withdrawal of some portion. The act continues to require that a portion of the investment income be retained within the Heritage Fund to help maintain its real value.
The Heritage Fund is invested in a globally diversified portfolio across many asset classes, such as stocks, bonds and real estate.
Legislation
See the Alberta Heritage Savings Trust Fund Act.
Glossary
See commonly used terms related to the Heritage 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
Investment Manager
Evan Siddall, Chief Executive Officer, Alberta Investment Management Corporation (AIMCo)
Auditor
Doug Wylie, FCPA, FCMA, ICD.D, Auditor General of Alberta
Contact
Hours: 8:15 am to 4:30 pm (open Monday to Friday, closed statutory holidays)
Phone: 780-427-3035
Toll free: 310-0000 before the phone number (in Alberta)
Address:
Heritage Fund
9th Floor, Queen Elizabeth II Building
9820 107 Street
Edmonton, Alberta T5K 1E7
Online
Government of Alberta feedback form
Contact your MLA
See contact information for your MLA at the Legislative Assembly of Alberta website.