Permanent Fund recoups some losses

Posted: Tuesday, February 18, 2003

ANCHORAGE (AP) -- A relatively strong stock market from October through December gave the $22 billion Alaska Permanent Fund a 4.4 percent return on its investments for the quarter, fund officials said.

That return recouped more than half the 7.5 percent decline the state's oil wealth savings account posted in the preceding quarter, they said.

For the year, the fund posted a 5.4 percent loss. A 20.2 percent for decline in U.S. stock investments and a 4.1 percent decline for foreign stock investments was offset by a 9.4 percent increase for U.S. bonds, 14.8 percent for foreign bonds and 7.4 percent for real estate.

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