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.
- District Court Judge Kirsten Swanson was sworn in on Wednesday.
- A state commission approved to petitions for Dillingham and Manokotak to annex land in the Nushagak commercial fishing district against their staff's recommendations. The annexations will allow the two city's to tax salmon harvested in the district.
- The Kodiak Island Borough agreed to hold conserve land that multiple Kodiak residents testified they wanted to protect.
- A man who was shot by a Juneau police officer was medevaced to Seattle and is expected to live. The police, the Department of Law and the Alaska Bureau of Investigation are trying to determine why lethal force was used.