DEFINITION of 'Heritage and Stabilization Fund - HSF'
The Heritage and Stabilization Fund is a sovereign wealth fund that was established in March 2007 by the government of the Republic of Trinidad and Tobago. It was previously known as the Interim Revenue Stabilization Fund, which was set up in 2000. The primary objectives of the fund are to save and invest surplus petroleum production revenues in order to support and sustain public expenditures during periods of revenue downturn, and to provide a heritage for future generations of the nation.
BREAKING DOWN 'Heritage and Stabilization Fund - HSF'
The Heritage and Stabilization Fund is denominated in U.S. dollars and its fiscal year ends in September. The fund provides a cushion to the economy in times when the price of oil or natural gas have fallen. As of September 30, 2009, the fund had net assets of $2.96 billion.