Strategy & Objectives
SWF Asset Allocation
Key Executives and People
Eric Williams Finance Building
Ministry of Finance
Trinidad and Tobago
Tel: (868) 627-9700 ext: 2805-9
Fax: (868) 627-9700 ext: 2810
[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
The Heritage and Stabilization Fund (HSF) was created in March 2007 with the passing of the HSF Act. No. 6. Before the act, the predecessor fund was called the Interim Revenue Stabilization Fund (IRSF) which dates back to 2000. Proceeds from the IRSF have been transferred to the HSF.
The fund objectives include:
- Cushion the impact on or sustain public expenditure capacity during periods of revenue downturn whether caused by a fall in prices of crude oil or natural gas.
- Generate an alternative stream of income so as to support public expenditure capacity as a result of revenue downturn caused by the depletion of non-renewable petroleum resources.
- Provide a heritage for future generations, of Trinidad and Tobago, from savings and investment income derived from excess revenues.
The fund is paid by petroleum revenues and is used to help stabilize budget shortfalls. The HSF is separate from the overall foreign exchange reserves of Trinidad and Tobago. Its purpose is to generate saving and investment income for future generations.