Alaska Permanent Fund Reaches Record High of $80.1 Billion
Governor Mike Dunleavy announced the daily value of the Alaska Permanent Fund reached an all-time record high of $80.1 billion on May 28.
“The Permanent Fund has done an exceptional job and we are seeing the highest returns ever in a single year. Following a year of hardship due to the pandemic, the Permanent Fund will undoubtedly be a key financial resource for the state and Alaskan families,” said Dunleavy. “Further, now is the time to constitutionally protect this fund for future generations and ensure Alaskans continue to receive their 50 percent share of the state’s resource wealth.”
The Alaska Permanent Fund has become increasingly important in supporting the state’s essential services. For the first time since the Fund was established more than forty years ago, its total value—including the Principal and the Earning Reserve Account—has exceeded the $80 billion milestone.
Based on the close of the market on May 27, the daily value of the Alaska Permanent Fund was $80,096,600,000. The fund has doubled in the last ten years from $40.1 billion in FY 2011 and saw a $15 billion increase in the past year alone.
“I want to thank the Alaska Permanent Fund Corporation for having the courage and vision to continue following their prudent investment strategies to reach this momentous high-mark,” said Dunleavy. “Growing the Fund from the initial deposit of $734,000 to yesterday’s high of $80.1 billion, a staggering increase over the forty-five years, will continue to make a direct and positive impact on the lives of all Alaskans.”
In This Issue
The 2021 Best of Alaska Business Awards
Welcome to the 2021 Best of Alaska Business awards! We ask our readers to give us their input on the best businesses that Alaska has to offer, ranging from flower boutiques to accounting firms. Throughout March, readers voted in record numbers, yet another indication after a trying year of how Alaskans take extra effort to support local businesses.