Permanent Fund Corp. earns $6.3B in 2018 fiscal year

posted by Michael Ortega - 

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The Permanent Fund continued its rapid growth during the 2018 state fiscal year by gaining $6.3 billion, or 10.7 percent, and nearly reaching $65 billion in value.

The state fiscal year ended June 30.

Alaska Permanent Fund Corp. CEO Angela Rodell said Alaskans could take pride in the returns the corporation is achieving for the Fund — even if many are at the same time frustrated with how it is being used.

This spring the Legislature and Gov. Bill Walker approved Senate Bill 26, which called for the state to make a draw of 5.25 percent of market value, or POMV, on the Fund’s Earnings Reserve Account to drastically pay down the state’s ongoing budget deficits and pay dividends while at least temporarily ending their three-year debate over how to best employ the Fund’s earning power.

Permanent Fund Corp. earns $6.3B in 2018 fiscal year

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