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Alaska Permanent Fund sees slight return for first quarter

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ANCHORAGE, Alaska (AP) - Alaska Permanent Fund Corp. officials say the returns for the first quarter of the 2019 fiscal year were less than desirable, ending the period with a balance of more than $63.9 billion. 

The Alaska Journal of Commerce reports fund managers generated a 2.13 percent return, with investments producing $846 million in statutory net income. 

CEO Angela Rodell says the return highlights the significance of having a well-diversified investment portfolio and "meaningful allocations to private market assets." 

The fund's balance was $931 million less than the nearly $64.9 billion at the start of the quarter, largely because of the money appropriated for the first time from the Earnings Reserve Account to fund state government operations. 

The state Legislature had approved a 5.25 percent of market value draw from the fund. 

 

Information from: (Anchorage) Alaska Journal of Commerce, http://www.alaskajournal.com 

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