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High Third Quarter Gains to Alaska Permanent Fund

KSRM News Desk

The Alaska Permanent Fund gained 2.1 percent in the third quarter of fiscal year 2014.

 

Mike Burns with the Alaska Permanent Fund Corporation…

 

https://radiokenai.net/wp-content/uploads/2014/05/BURNS-ON-THIRD.mp3?_=1

Burns: “It’s a continuation of a very good year, a very solid year so far, year to date we’ve made 11.5 percent and 2.1percent of that was in the last three months and that takes the fund to a value of $50.4 billion dollars at the end of the quarter so that’s an all time high for a quarter end and we’re very pleased with that.”

 

The Fund earned $1.3 billion in statutory net income during its third quarter which brings the fiscal year-to-date total to $2.6 billion.

 

https://radiokenai.net/wp-content/uploads/2014/05/BURNS-ON-THIRD-2.mp3?_=2

Burns: “Understand it’s been led by the stock market which had a very very strong first six months of this fiscal year. Our U.S. stocks were up 21.9 percent, our international stocks were up 14.6 percent, and our global stocks which is a mixture of U.S. and national was up 19.2 percent. So that’s very healthy returns.”

 

Statutory net income is the value used to calculate the annual Permanent Fund Dividend and Burns said that based on these numbers the Permanent Fund Dividend is predicted to be higher than last years.

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