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Article: Heritage Fund impacted by market downturn; Diversified portfolio protected fund from larger losses.
- Article from:
- M2 Presswire
- Article date:
- July 1, 2009
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M2 PRESSWIRE-1 July 2009-Government of Alberta: Heritage Fund impacted by market downturn; Diversified portfolio protected fund from larger losses(C)1994-2009 M2 COMMUNICATIONS
RDATE:29062009
Edmonton -- The sharp decline in world equity markets and the global economic and credit crisis led to the Alberta Heritage Savings Trust Fund losing $3 billion in value in 2008-09, a decrease of 18.1 per cent from last year. This left the fund's fair value at $14.0 billion as of March 31, 2009.
'Last year was tough for investors around the globe, including the Heritage Fund,' said Iris Evans, Minister of Finance and Enterprise, who released the Heritage ...