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Alaska Permanent Fund Ends Year With $44.9B Value
The Alaska Permanent Fund has posted its highest year-ending balance, with a value of $44.9 billion.
JUNEAU- The Alaska Permanent Fund has posted its highest year-ending balance, with a value of $44.9 billion.
The fund, created to share Alaska's oil wealth with future generations, reported an average return of 10.5 percent for the year ending June 30.
Michael Burns, CEO of the Alaska Permanent Fund Corp., says it was a very good year for stocks, which comprise the biggest segment of the fund's assets.
The fund expects to transfer $604 million to the dividend division for checks this year. That would be the lowest transfer since fiscal year 2005.
The amount of investment earnings allocated to dividends is based on a five-year rolling average of Permanent Fund performance. That average includes 2009, when the fund posted its first net loss in the statutory net income.
Tonight on Your Alaska Link