The Legislative Assembly of Alberta’s Standing Committee on the Alberta Heritage Savings Trust Fund invites the public to its annual meeting to discuss information about the $17.5 billion Fund.
“The Fund belongs to all Albertans, and it benefits us in so many ways,” said Ron Casey, committee chair and MLA for Banff-Cochrane. “I encourage everyone to attend, ask questions and voice their thoughts on the Fund.”
The Committee will discuss the new endowments established within the Fund in 2014. New to the meeting this year will be a guest presentation by Dr. Randall Morck from the University of Alberta. Dr. Morck is the Stephen A. Jarislowsky Distinguished Chair in Finance and University Professor at the School of Business. He will speak on the topic of sovereign wealth funds.
Albertans can attend the meeting in person, watch live on Shaw TV or catch the webcast online.
Public Meeting on the Alberta Heritage Savings Trust Fund
Thursday, October 9, at 4:30 p.m.
Lister Centre, University of Alberta
11613 – 87 Avenue, Edmonton
During the meeting audiences can send their questions and comments via Twitter @legassemblyofab and #abheritagefund, by e-mail to email@example.com or by calling 780.427.1348. (Outside Edmonton dial 310.0000 for toll-free connection.)
The public meeting will also be rebroadcast in the evening from 7 to 9 p.m. on Shaw TV.
About the Alberta Heritage Savings Trust Fund
Established in 1976, the 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. The Fund earned a record net income of $2.1 billion for the year ended March 31, 2014. The net assets held in the fund totalled $17.5 billion at fair value, about $500 million higher than last year. The investment breakdown includes 54% in equities, 19% in fixed-income assets and 27% in inflation-sensitive and alternative assets.
About the Standing Committee
The Legislative Assembly of Alberta’s Standing Committee on the Alberta Heritage Savings Trust Fund is an all-party committee consisting of nine Members of the Legislative Assembly. It annually reviews and approves the Fund’s performance and annual report, receives and reviews the quarterly reports on the Fund’s operations and results, holds public meetings with Albertans to report on investment activities and results and reports to the Legislative Assembly on whether the mission of the Fund is being fulfilled.
For information on the Standing Committee: http://www.assembly.ab.ca/ committees/ abheritagetrustfund/index.html