(Anchorage, AK) – Alaska Governor Mike Dunleavy Friday announced the daily value of the Alaska Permanent Fund reached an all-time record high of $80.1 billion.
“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 Governor Dunleavy. “Further, now is the time to constitutionally protect this fund for future generations and ensure Alaskans continue to receive their 50% 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 40 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 Thursday, May 27th, the daily value of the Alaska Permanent Fund was $80,096,600,000. The fund has doubled in the last 10 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 Governor Dunleavy. “Growing the Fund from the initial deposit of $734,000 to yesterday’s high of $80.1 billion, a staggering increase over the 45 years, will continue to make a direct and positive impact on the lives of all Alaskans.”
Governor Dunleavy has called a special session to pass the FY 2022 budget and consider his constitutional amendment (HJR 7/ SJR 6) to protect the Permanent Fund and Permanent Fund Dividend. The legislation received public testimony from nearly 100 Alaskans on Monday, May 24th in the House Judiciary Committee.
For more information on the Alaska Permanent Fund, visit https://apfc.org/.