Market Rally Boosts Alaska Permanent Dividend Fund in Second Quarter
FEB 8- The Alaska Permanent Fund's investments returned 3.3% for the second quarter of Fiscal Year 2010 according to reports issued today. The Fund ended on December 31 with a value of $34.6 billion. For the first half of the fiscal year, the Fund grew $4.7 billion in value and returned 14.2%.
The stock market rally that began before the start of the fiscal year carried through the end of the December, although at a slower pace than the first quarter of the fiscal year. The U.S. stock portfolio returned 5.9% for the quarter and 23.1% for the fiscal year-to-date, the non-U.S portfolio returned 4.5% and 24.1%, the global portfolio returned 4.8% and 23.3% respectively.
The Fund's U.S. bond portfolio returned 1.1% for the quarter and 6.4% for the fiscal year-to-date. The non-U.S. bond portfolio was nearly flat for the quarter at 0.3% but up for the year-to-date, returning 3.5%. The Fund's absolute return investments saw a 2.3% return for the quarter and 8.9% for the year-to-date, while real estate returned -0.7% for the quarter and -0.9% for the fiscal year-to-date.
The Fund earned $266 million in statutory net income for the quarter, bringing the year-to-date total to $385 million. This is the income that is used to calculate the annual Permanent Fund Dividend.