22.01.2016 - Permanent Fund value takes a $2.5 billion hit as stock markets dive
The value of the Alaska Permanent Fund portfolio decreased by billions of dollars in the first two weeks of this year, as U.S. and global stock markets plummeted. While the fund was worth an estimated $51.8 billion on New Year's Day, according to the fund spokeswoman Laura Achee, that value dropped by $2.5 billion drop as of Jan. 15. The slide has continued this week, with the value dipping to $48.9 billion on Tuesday when the Alaska Legislature's 90-day lawmaking session began. "It is a bit unusual," Gov. Bill Walker said in an interview. "Typically, when the price of oil is down, the stock market is up because the cost of doing business is significantly less."..............................................Full Article: Source
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