27.01.2014 - Canadian sovereign-wealth funds: The year of the ant
Twenty years before Norway began stashing away oil and gas revenue for future generations, the Canadian province of Alberta set up a sovereign-wealth fund (SWF), as such state-owned hoards are known. Sadly, the Heritage Savings Trust Fund has not lived up to expectations. Although it has been around since 1976, it contains only C$16.8 billion ($15.3 billion). Norway’s stripling SWF, in contrast, has already accumulated a national nest-egg of $800 billion. Other Canadian provinces are now setting up SWFs—and trying to learn from Alberta’s mistakes...............................................Full Article: Source
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