JUNEAU, Alaska (KTUU) - The Alaska Permanent Fund Corporation announced that the fund reached an unaudited market value of "well over $65 billion," on Thursday, Jan. 18.
According to APFC, this is a new record for the books.
The fund hit its $60 billion unaudited milestone value, approximately six months ago.
Alaska's fund was constitutionally established in 1976, as citizens voted to put at least 25 percent of the oil money in a dedicated fund: the Permanent Fund. It was an effort to save money for future generations.
APFC, which was created in 1980, manages the fund as a single investment pool; furthermore, the Permanent Fund contains two major accounts: the corpus and the earnings reserve. While principal money may not be spent, as instructed by the Alaska Constitution, the latter – containing the fund's interest – may be spent. The Legislature may spend this account money for any public purpose, including the annual Permanent Fund Dividend checks made out to Alaskans.
To learn more about current market values, click on this link.