Alberta’s fund cautionary tale for Carney’s national sovereign wealth fund

Rahim Mohamed/National Post: The Alberta fund’s five-decade history has been one of missed targets and iffy management. Despite an initial target of 30 per cent of provincial non-renewable resource revenues, less than five per cent of these revenues have been deposited into the fund over its lifetime. The fund has also been vulnerable to external shocks, notably losing $3 billion in value during the 2008-2009 Great Recession…