Province’s Heritage Fund takes a hit
Posted Sep 30, 2011 7:51 am.
This article is more than 5 years old.
Alberta’s finance minister is sounding the alarm over the province’s nest egg.
Lloyd Snelgrove says the Alberta Heritage savings trust fund hasn’t been immune to the recent economic trouble on the markets.
Snelgrove says there will be losses or writedowns of the account, but tells The Calgary Herald he doesn’t have full details at this point.
Details of the full impact on how the market slide affected the fund will come with a second quarter update in November.
Between April and June, the fund was valued at more than $15-billion.
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