Foreign stocks boost Alaska Permanent Fund
Easing of fears over European debt crisis leads to boost in foreign stocks held by Alaska fund
JUNEAU, Alaska (AP) -- The easing of fears over the European debt crisis and the state of China's economy led to a boost in foreign stocks held by the Alaska Permanent Fund Corp.
Officials with the corporation that oversees Alaska's oil wealth portfolio says the fund ended the second quarter of the fiscal year with a return of 2.7 percent.
The corporation says the fund is up 7.3 percent for the year, and had a value Dec. 31 of $43.7 billion.
Second quarter net income was $364 million, and to date this fiscal year, the fund has net income of $1.3 million. Officials say that is the amount used to calculate the annual dividend check given to nearly every single Alaskan.
