Real Estate News
--> Alaska News
Permanent Fund big loser in market crash
ANCHORAGE (KTUU) One of the big losers in the recent stock market tumble was Alaska’s Permanent Fund ... $4.2 billion was invested in real estate, $11.9 billion in the bond market, $2 billion was in cash and $2.4 billion in hedge funds.
ANCHORAGE (KTUU) One of the big losers in the recent stock market tumble was Alaska’s Permanent Fund, which has fallen nearly $3 billion since its high point of $66.5 billion on Jan26.
But Angela Rodell, the Permanent Fund Corp.’s chief executive, said Alaskans shouldn’t worry.
“I think this volatility explains why we don’t have 100 per cent of the assets in the stock market,” Rodell said in an interview Wednesday“We thought $100-barrel oil was going to last foreverWe think bull markets are going to last foreverThey don’tThis stuff is volatile and I guess that‘s the lesson to be taken from what’s happened the last 2½, three weeksIt’s just a reminder that markets are volatile — they go up and they go down.”
Rodell, a former revenue commissioner, said the diversity of the Permanent Fund’s investments protect it from declining too much when any one market falls.
On Tuesday, the most recent day that Permanent Fund Corprecords were available, $4.2 billion was invested in real estate, $11.9 billion in the bond market, $2 billion was in cash and $2.4 billion in hedge fundsThe fund had $28.4 billion invested in stocks, the corporation said.
Trending Alaska News:
Nat Borchers now plays the real estate game
Alaska author wants to build writers' retreat
Trump still needs to pick federal real estate chief
A real estate deal too good to pass up
The unexpected jobs your state lawmakers have outside the office
Business news roundup
North Dakota Thrives as Nevada Suffers in Recovery: Economy
7541 Alaska Ave NW, Washington
Alaska Air CIO flies off to build Dubai smart cities
New Mergers to Help Push BDO to $800 Mn
St. Tammany real estate transfers for April 8-14, 2016
'We must not kill our oily goose,' GOP lawmaker says
Heating oil thieves targeting empty homes around Fairbanks
10 Forgotten Stories About The Klondike Gold Rush
Local achievements, milestones
Parents Help Son’s Senate Bid as Steyer Funds Climate PAC
Conventional Home Mortgage Loan Limit to Rise Next Year
Vogler could have taught militiamen a few things
Anchorage apartments might see vacancies climb this year
TV critic's picks: Oct. 20