Alberta adds $2.8-billion to Heritage Fund, expands board of new oversight corporation

Alberta’s government has contributed $2.8-billion to a provincial wealth fund that now stands at $30-billion and fleshed out the board of directors for a new corporation that was set up to make the fund grow faster. Premier Danielle Smith’s government created the new Crown corporation, called the Heritage Fund Opportunities Corp., or HFOC, late last year. It will oversee a plan announced in January that aims to boost the assets held by the province’s Heritage Savings Trust Fund to at least $250-billion by 2050.