The Alaska Permanent Fund Corporation reported a return of .02 percent for the fiscal year. The total value of the fund is sitting at $40.3 billion.
“It was a volatile year for the global stock markets, particularly overseas markets,” said Michael Burns, CEO, in a press release. “Stocks make up about half of the Fund’s investments, so they had the largest impact on our performance. “
The Fund’s U.S. stock portfolio returned 2.3 percent. The non-U.S. portfolio returned -14.6 percent while the global portfolio returned -4.7 percent according to the press release.
The Permanent Fund earned $1.6 billion in statutory net income. This income comes from real estate properties, dividends from stocks, interest on bonds and the sale of assets.
The Permanent Fund Dividend is calculated by averaging five years of the statutory net income.
This year, $605 million will be transferred for the fall dividend payment. Last year, the APFC transferred $801 million to the Permanent Fund Dividend Division for the fall payment.
- Wayne Price thinks if there is going to be a wider healing among Natives in America, the U.S. government needs to apologize for the devastating toll the boarding schools took.
- Alaska’s economic woes are affecting all corners of the state, especially communities that were banking on an Arctic boom.
- The dead included one police officer from a local university. At least nine other people were hurt, including four police officers.
- Studies recommended relocating villages like Newtok, Kivalina and Shishmaref. But more than 10 years later they are still there, with waves getting higher and storms getting stronger.