For the first time in a decade, the Alaska Permanent Fund Corp., source of more than half of Alaska’s general-purpose state revenue, posted negative investment returns for an entire fiscal year.
The offices of the Alaska Permanent Fund Corp. are seen Monday, June 6, 2022 in Juneau, Alaska.
Between June 30, 2021, and June 30, 2022, the fund’s market value declined from $81.8 billion to $77.3 billion. That decline includes withdrawals and deposits, as well as the investment loss., released this week, and contained unaudited, preliminary figures that also include withdrawals and deposits, not just investment gains and losses. Final figures are expected later this month.
“I’m encouraged by that,” Frampton said, “because anyone can make money in an up market by taking more risk. But then to have beaten the benchmark in an up year like last year and then beat it in a down year, this year, I’m really encouraged by how our portfolio managers navigated the two very different markets.”, which include investments where the Permanent Fund offers a company money for an ownership share that can later be converted into cash when the company starts selling public stocks.
At the start of the fiscal year, the fund still held about $400 million in Denali Therapeutics’ stock, only to see its value fall by about half.“With hindsight, we wish we had sold more aggressively, like a year ago,” he said. Investment returns, rather than oil deposits, are the biggest factor in whether the fund gains money or loses money.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
University of Alaska Foundation creates fund for Ukrainian students - Alaska Public MediaAccording to the New Chance Ukraine Relief Program, 230 Ukrainians have resettled in Alaska so far, and 100 more are awaiting final paperwork. A third of them are expected to be students.
Leer más »
Alaska News Nightly: Wednesday, August 3, 2022 - Alaska Public MediaHomeless advocates worry as outdoor deaths increase in Anchorage. Community leaders in Southeast say the lack of affordable housing is contributing to a labor shortage. And a 17-year-old stops in Unalaska during his quest to become youngest person to fly solo around the world.
Leer más »
Alaska Geographic publishes guide to Kenai National Wildlife Refuge canoe trails - Alaska Public MediaFor his research, Dave Atcheson’s been back out onto the canoe trails he's been paddling for decades. Atcheson and Alaska Geographic just published a guidebook that chronicles that system so others can enjoy it like he has.
Leer más »
Alaska News Nightly: Thursday, August 4, 2022 - Alaska Public MediaEconomists say Anchorage has plenty of open jobs, but not enough workers to fill them. A Ketchikan couple sues over a school's use of traditional tribal values. And biologists have a shocking new way to catch an invasive species of crayfish.
Leer más »
Former Alaska correctional officer sentenced for smuggling drugs and cellphones into prison - Alaska Public MediaProsecutors say that in 2019, Angela Lincoln “allowed greed to overcome her ethical responsibilities,” and she started smuggling Suboxone strips and burner cellphones into Goose Creek Correctional Center.
Leer más »
Chignik sockeye runs meet escapement goals for the first time since 2018 crash - Alaska Public MediaIt’s the first time the early sockeye run has met its minimum escapement since it collapsed in 2018.
Leer más »