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Sovereign Wealth Funds Briefing - Categorized | Performance

Falling stocks slice $1B from Alberta’s heritage savings fund

Posted on 15 October 2008

From Canadian Press: Falling stock prices have sliced roughly $1 billion from the value of Alberta’s rainy-day savings account, the Heritage Savings Trust Fund.

Finance Minister Iris Evans told the legislature Tuesday that the value of the Heritage Fund has been reduced to $16 billion since June, a drop of roughly six per cent. But she’s downplaying the loss. “That’s a paper loss, it does not translate into an immediate loss,” Evans said in an interview after commenting publicly on the Heritage Fund losses for the first time….. Full Article: Source


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