Alaska Permanent Fund Corp.

• Author: Gallion, Mari
• Position: INSIDE ALASKA BUSINESS - Its closing funds - Brief article

The Alaska Permanent Fund reached a new high water mark on Feb. 19, closing for the first time with an unaudited value of $45 billion.

"Significant milestones in the Permanent Fund's value provide us with the opportunity to stop and reflect on what has been a very successful public policy experiment," says Alaska Permanent Fund Corp. Board Chair Bill Moran. "The total value is less important than the fact that the Fund's investments have turned a non-renewable natural resource into a renewable financial resource."

CEO Mike Burns says, "In July 2007, shortly before the beginning of the recent recession, the Fund first closed at $40...