PFD investment return down 3.6%

Posted: Tuesday, July 29, 2008

JUNEAU - Stocks dragged the return on Alaska Permanent Fund investments down 3.6 percent last year.

Chief Executive Officer Mike Burns said stocks were the weakest part of the portfolio, but positive bond returns helped mitigate some of the losses.

The fund's value at the beginning of the fiscal year was $37.8 billion.

It ended the year at $35.9 billion after paying out $1.3 billion for dividends.

Final audited returns for the last fiscal year will be announced during the Permanent Fund Corporation's annual meeting in Juneau on Sept. 24-25.

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