Monday, February 7, 2011

As economy grows, Permanent Fund regains lost ground

JUNEAU -- The Alaska Permanent Fund did well in the first half of fiscal year 2011.

Fund managers said the fund showed a 14.5 percent gain. That means the fund's value was $38.4 billion at the end of the second quarter ending Dec. 31.

Fund Chief Executive Officer Mike Burns said the fund was well-positioned to take advantage of the return in consumer confidence and the strengthening economy.

Managers said the fund earned $761 million in statutory net income, which is used to calculate the annual Alaska Permanent Fund dividend.

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