DEFINITION of 'Alberta Heritage Savings Trust Fund'
A provincial fund established in the Canadian province of Alberta which aims to manage and invest the savings from Alberta's vast non-renewable resources to provide the greatest financial return on those savings for current and future generations of Albertans. The Alberta Heritage Fund was enacted under the Alberta Heritage Savings Trust Fund Act of 1976. The fund invests in equities, bonds, real estate, private equities and absolute return strategies.
BREAKING DOWN 'Alberta Heritage Savings Trust Fund'
At inception in 1976, the Heritage Fund had three objectives - to save for the future, to strengthen or diversify the economy, and to improve the quality of life of Albertans. In 1997, the Heritage Fund was restructured so that it could no longer be used by the government for direct economic development or social investment purposes.