Pension fund slides as markets bite Alberta plan
The Local Authorities Pension Plan or LAPP, valued at 9.4 billion, fell 4.8 percent or 450 million in the 12 months to March 31. Fund managers cite weak markets, with TSE and S&P 500 down sharply, though December results topped target briefly. Officials expect a partial recovery after a tough first quarter of 2001.
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Bank hints at higher interest rates in Canada
Bank of Canada governor David Dodge told the Edmonton Chamber of Commerce that Canada must be cautious about following the U S lead on lower rates. He noted Canadian lending costs are already lower than in the U S and expects a July 17 rate decision.
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Klein to Attend Alberta Days Gala With Hollywood Stars
Premier Ralph Klein and cabinet members will fly to Los Angeles for a Canadian consulate party marking Canada Day with Alberta Days. Invited celebrities include Wayne Gretzky Alex Trebek Monty Hall k d lang Norman Jewison David Foster Michael J Fox William Shatner Jason Priestly Donald Sutherland Kiefer Sutherland and others. Officials say the visit will promote Alberta focusing on agriculture tourism and film industries.
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Iia
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