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Sovereign Wealth Funds Briefing - Categorized | Market, Performance

Permanent Fund, oil income stung by financial quagmire

Posted on 14 October 2008

From Adn.com: The world financial crisis is hitting Alaska with a one-two punch, as the Permanent Fund has shriveled in value by one-quarter — falling $10 billion in all — and oil prices plunge amid fears of a global recession.

But state officials aren’t particularly nervous. Legislators say the price of oil is still comfortably above the state’s break-even point. And Permanent Fund managers say they plan to ride out the market swing without changing course on their investments….. Full Article: Source


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