11.08.2011 - Permanent Fund loses $1 bln in one day
The Alaska Permanent Fund’s value dropped more than a billion dollars in a single day Monday when the stock market tumbled, and even after Tuesday’s market rally is estimated to be about $2 billion down from its June 30 heights. The market value of the fund reached $40.1 billion at the close of the fiscal year on June 30. That was the highest it has ever ended the year, prompting officials to send out an Aug. 2 announcement to the news media that led to widespread coverage of the fund’s success..............................................Full Article: Source
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