Permanent fund returns drop

    Juneau, Alaska (KINY) Returns were 2.13 percent in the first quarter of 2019.

    The Alaska Permanent Fund Corp. announced statutory net income at $846 million for the quarter.  They had a balance of $63.9 billion in the fund.

    The fund balance dropped by $931 million from $64.9 billion because the legislature appropriated money from the Earnings Reserve Account to fund state government.

    The legislature approved a 5.25 percent of market value draw, about $2.7 billion in May.  $1 billion was used to pay annual dividends and the rest put toward state government services.

     

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