Crown Investments Corporation (commonly known as CIC) is the

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

used by the

Government of Saskatchewan The Government of Saskatchewan (french: Gouvernement de la Saskatchewan) refers to the provincial government of the province of Saskatchewan. Its powers and structure are set out in the Constitution Act, 1867. In modern Canadian use, the term "g ...

to manage its financial and commercial

Crown Corporations A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government ...

as well as its minority holdings in private-sector ventures.

History

CIC started out as the Government Finance Office (GFO) in 1947. Its job was to manage, direct investment, and return

dividends A dividend is a distribution of profits by a corporation to its shareholders. When a corporation earns a profit or surplus, it is able to pay a portion of the profit as a dividend to shareholders. Any amount not distributed is taken to be re-in ...

of various commercial Crown corporations to the Government. The profits from the Crown corporations were reinvested or given back to the government. The GFO was also used to invest government money in various Crowns. In 1978, the name was changed to Crown Investment Corporation.

References

External links

Crown Investment Corporation of Saskatchewan
Crown corporations of Saskatchewan Sovereign wealth funds Economy of Saskatchewan Investment in Canada {{saskatchewan-stub