 Alberta Heritage Fund: Measuring Value and AchievementG. Mumey and J. Ostermann Canadian Public Policy, 1990, vol. 16, issue 1, 29-50 Abstract: In legal entity and administrative structure, the distinction between the Alberta Heritage Savings Trust Fund and the Alberta government is ambiguous. This ambiguity extends to the Fund's investment portfolio, where obligations of the Provincial government and its Crown Corporations comprise much of the asset position, and where Alberta government subsidies and guarantees increase the Fund's reported earnings. These interrelationships confound the reporting of the Fund's size and performance. This paper examines the Fund's objectives, its financial components, and the effect of its transactions with the Provincial government on its reported financial position and performance. Analysis suggests that the Fund's financial assets are about 10 percent smaller than the 12.6 billion officially reported and that Fund performance has been adversely affected by low de facto returns on Alberta Crown Corporation debentures. Date: 1990 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:cpp:issued:v:16:y:1990:i:1:p:29-50 Ordering information: This journal article can be ordered from Access Statistics for this article Canadian Public Policy is currently edited by Prof. Mike Veall More articles in Canadian Public Policy from University of Toronto Press University of Toronto Press Journals Division 5201 Dufferin Street Toronto, Ontario, Canada M3H 5T8. |
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