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.
- Juneau Finance Director Bob Bartholomew projected Gov. Bill Walker’s veto of about half of dividend funds will cost the city.
- Only three votes now separate two northern Alaska House candidates. Dean Westlake of Kotzebue has 780 votes, ahead of 777 votes for incumbent Rep. Ben Nageak, who’s from Barrow.
- Bus passes, child-care assistance, work clothing and other resources to get low-income tribal members into jobs are being cut in seven Southeast Communities..
- The U.S. Northern Command and Coast Guard have launched a major field-training exercise off Alaska’s northwest coast. Arctic Chinook is intended to demonstrate how local, state and federal agencies would respond to a simulated cruise ship accident. Coincidentally, a big luxury cruise ship will sail through the area while the exercise is under way. And to further complicate things, bad weather has just set in.