Alberta to Redirect $3 Billion of Heritage Fund Over 10 Years
The Alberta government unveiled the Savings Management Act which calls for the establishment of a Future Fund and creation of two new endowments for agriculture and poverty aid as well as a sizable contribution to the existing Alberta Heritage Scholarship Fund. The bill calls for C$ 3.4 billion (US$ 3.06 billion) in funding over the next 10 years to be sourced from existing assets of the Alberta Heritage Savings Trust Fund.
The Alberta Future Fund will initially be capitalized by C$ 200 million later this year and will receive C$ 200 million each year for the following nine years, totaling C$ 2 billion in contributions.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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