15.10.2008 - Falling stocks slice $1B from Alberta's heritage savings fund
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