Permanent fund OK, so far

Posted: Thursday, September 13, 2001

JUNEAU --The custodian bank for the Alaska Permanent Fund and one of the fund's money managers were forced to relocate from offices near the World Trade Center on Tuesday.

However, both institutions are up and running at alternate sites and the attack did not have a financial effect on the fund, said Bob Storer, chief executive officer of the Alaska Permanent Fund Corp.

"The financial impact on the permanent fund is essentially non-existent, if you will. We just have to see what the impacts on the market will be weeks down the road," said Storer.

He noted the tragedy has touched some employees on a personal level because they know people who worked at the World Trade Center. Out of respect for the victims, the corporation has scaled back events scheduled next week in Juneau for the fund's silver anniversary, Storer said.

The corporation canceled a reception scheduled for Monday night, and all events Tuesday afternoon and Wednesday morning, including an anniversary retrospective with former Gov. Jay Hammond. It also might postpone a ceremony set for Tuesday morning to dedicate the Hugh Malone board room, Storer said. The board of trustees instead will meet only on Tuesday, 8:30 a.m. to 5 p.m.

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