Participants - Alberta Finance:
Lowell Epp, Assistant Deputy Minister, Alberta Finance
Stephen Thompson, Executive Director, Treasury and Risk Management, Alberta Finance
Aaron Brown, Director, Portfolio Management, Alberta Finance
IFSWF Secretariat:
Kristian Flyvholm, Secretary-General
Bayasgalan Rentsendorj, Senior Membership Manager
Adam Robbins, Senior Membership Manager
Key Points
• KF updated Alberta about the IFSWF 2015 Annual Meeting and activities over the past year.
o KF described the new research agenda and policy.
o KF described the SC agenda.
o KF also updated Alberta on the upcoming Baku workshop.
• LE described the current situation of the Heritage fund and Alberta’s finances more broadly.
o Alberta’s economy is petroleum-driven, and Alberta currently faces fiscal crisis.
o Except for inflation-proofing, the investment returns of the $17b Heritage fund are withdrawn annually for budget support.
o The new government in Alberta is currently unfamiliar with Alberta’s history with the IFSWF.
• Alberta will contribute substantially to SC2’s work.
o The risk management project falls squarely within Alberta Finance’s mandate, and is a topic on which Alberta can bring expertise to bear.
o Aaron Brown will be the key point of contact for Alberta’s SC2 work.
• IFSWF and Alberta aim to collaborate more closely in the future. Next Steps
• Adrian Orr will write to Alberta’s Minister of Finance to reiterate the importance of IFSWF’s work, and the value of Alberta’s contribution.
• The Secretariat will assist in integrating Alberta into SC2’s work plan on risk management.