Alaska Permanent Fund hits all-time high
JUNEAU, Alaska (AP) — Alaska's oil wealth portfolio has hit an all-time high: $45 billion.
The Alaska Permanent Fund Corp. announced the fund hit the mark Tuesday.
The corporation tracks the fund daily. CEO Mike Burns said hitting $45 billion is a sign the Alaska Permanent Fund has not only regained ground lost during the recession but also that it is growing.
Burns says the fund, by any measure, has been very successful. He says the patience Alaskans have had in growing the fund is extraordinary, and says it takes a lot of political will to keep the fund off limits for use on other things.
Since 1977, the corporation says the fund has received more than $16.5 billion in mineral royalties and general fund appropriations and paid out $19.8 billion in dividends.