Improving Albertans' Quality of Life
Heritage Fund’s growth in second quarter of 2013-14 builds on success of previous fiscal year
The Alberta Heritage Savings Trust Fund posted a 4.0 per cent return for the first six months of the 2013-14. Fiscal year to date, the fund earned $948 million in gross income. At September 30, 2013, the Heritage Fund was valued at $16.7 billion. The Alberta Heritage Savings Trust Fund 2013-14 Second Quarter Update was released on November 26, 2013.
Heritage Fund to benefit from new savings plan introduced at budget
The Fiscal Management Act sets the stage for Alberta to become less reliant on natural resource revenues through a responsible savings plan.
The act, announced as part of Budget 2013, specifies that a portion of non-renewable resource revenue must be set aside as savings every year and will go into the new Contingency Account until it reaches a balance of $5 billion.
Once the Contingency Account reaches $5 billion for the first time, any additional non-renewable resource revenue will be deposited into the Alberta Heritage Savings Trust Fund or a provincial endowment.
Income from the Heritage Savings Trust Fund will also be retained in increasing portions, ultimately retaining 100 per cent of income by 2016-17. Read the news release.
Since 1976, the Fund has contributed $34 billion to fund Albertans’ priorities like health care and education.
See the left-side menu above for more information about the Heritage Fund, or use the quick links below to access highlighted topics.
November 26, 2013: 2013-14 Second Quarter Update
August 29, 2013: 2013-14 First Quarter Update
June 27, 2013: 2012-13 Government and Heritage Fund Annual Reports
- 2012-13 Government of Alberta Annual Report
- 2012-13 Alberta Heritage Savings Trust Fund Annual Report
March 7, 2013: Budget 2013 news release; and Heritage Fund 2012-15 Business Plan