The Alaska Permanent Fund saw an increase in its second quarter but is down overall for the fiscal year-to-date.
The Fund’s investments returned 2.1 percent for the second quarter of the fiscal year, bringing the fiscal year-to-date return to negative 2.2 percent according to the Alaska Permanent Fund Corporation.
As of December 31, the fund was valued at $51.8 billion which is down $1 billion from the beginning of the fiscal which began July 1.
The Fund’s Chief Executive Officer Angela Rodell says, “The slowdown in the Chinese economy and drops in commodity prices, including oil, have weighed on global markets, bringing a several–year period of growth to an end.”
The Fund’s stock portfolios are mirroring the total return by being up for the quarter but down for the fiscal year-to-date also.
The real estate holdings of the Fund helped offset those losses in the stock portfolio however, returning 2.3 percent for the second quarter and 6.2 percent for the fiscal-year-to-date.
The Permanent Fund recorded $737 million in statutory net income during the second quarter.
That total brings the year-to-date total to $1.1 billion for statutory net income, which is the income recorded to the earnings reserve and available for appropriation via dividends.
The earning reserve ended December with a balance of $8.1 billion.