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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Heritage Fund earns $852 million more than expected in 2013

Posted on 25 June 2014

The Alberta Heritage Savings Trust Fund earned $2.1 billion in interest in 2013-14, with a record 16-per-cent return on investment. The heritage fund is Alberta’s long-term savings account. It currently holds roughly $17.5 billion. Established in 1976, it was originally meant to save non-renewable resource revenue for future generations.
In recent years, the government has transferred most of the interest to general revenues to be spent. In total, interest from the fund has contributed roughly $36.5 billion to pay Alberta’s annual expenses. Over the next three years, however, the money taken out of the fund will be gradually reduced to zero………………………………………..Full Article: Source


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