“The Alberta Heritage Savings Trust Fund has been improving the lives of Albertans and providing security for future generations for over 40 years,” said Craig Coolahan, MLA for Calgary-Klein and chair of the Standing Committee on the Alberta Heritage Savings Trust Fund. “The public meeting on October 26 is an opportunity for Albertans to have an in-depth conversation about the status and future of their Fund with those who oversee its management and investment. We invite all Albertans to join the conversation.”
The Legislative Assembly of Alberta’s Standing Committee on the Alberta Heritage Savings Trust Fund will hold its annual public meeting on Thursday, October 26, 2017, at 7 p.m. The committee invites the public to participate in person or online at assembly.ab.ca. The meeting will also be broadcast on SHAW TV in select locations, including Fort McMurray, Hinton, Edson, Red Deer, Medicine Hat and Lethbridge.
The meeting will include an update on the Fund’s performance by experts from Alberta Treasury Board and Finance and the Alberta Investment Management Corporation (AIMCo), followed by a Q and A during which the public will be able to submit questions to the panel in person, through e-mail (firstname.lastname@example.org) and social media (on Facebook @LegAssemblyofAB and on Twitter using #abheritagefund).
The Fund earned a net income of $2.3 billion for the year ended March 31, 2017, achieving a 10.7% rate of return. The net assets held in the Fund totalled $17.5 billion at fair value. The investment breakdown includes 47.2% in equities, 17.9% in fixed income and money market and 33.8% in inflation-sensitive and alternative investments. At a broad level the investment strategy is to take a series of calculated risks in order to achieve a high rate of return that will pay a premium over time.
Annually the committee reviews and approves the Fund’s performance and annual report. It also 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.
Visit the Committee website for more information.