Alaska Permanent Fund grows despite yo-yo market cycle

Posted: Wednesday, January 03, 2001

ANCHORAGE (AP) -- The Alaska Permanent Fund grew by $750 million in December, despite wide swings in the stock market.

The state's oil wealth savings account ended the year with a market value of $26.8 billion.

Its U.S. stock holdings totaled $8.9 billion, or up $93 million for the month. Its foreign stocks performed the best, reaching $4.3 billion. That's up $323 million.

The fund's bond holdings totaled $10.8 billion, or up $258 million. Real estate, at $2.7 billion, was up $68 million for the month.

The Dow Jones Industrial average was up 4 percent, while the broader Standard & Poors 500 index was flat in the U.S. stock market last month.

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