Alaska oil fund hits record $40B, with Apple's help

Discussion in 'Apple, Inc and Tech Industry' started by *LTD*, Aug 2, 2011.

  1. *LTD* macrumors G4

    *LTD*

    Joined:
    Feb 5, 2009
    Location:
    Canada
    #1
    http://content.usatoday.com/communi...oil-fund-hits-40b----apple-is-its-top-stock/1

    Alaska oil fund hits record $40B, with Apple's help

    Back in 1976, a year before the spigot opened on the 800-mile pipeline, Alaska created a fund to forever share the impending oil bonanza with all state residents. Today, that fund reported it had hit a record $40.1 billion.

    Come Oct. 6, Alaskans can expect to share about $800 million in the annual dividend paid out by the Alaska Permanent Fund. The payout last year was $1,281 per person.

    But despite profiting mightily from the messy old-economy product of pipeline majority owner ExxonMobil, the fund's biggest boost in the just-ended fiscal year came from the clean tech of Silicon Valley -- Apple Inc., which tops the investment fund's stock holdings. Stocks comprise about 50% of the fund's total value.

    The second-largest stock holding is an emerging-markets fund, followed by ExxonMobil. The fund's assets also include bonds, real estate and private equity.

    Overall, the fund notched a 20.6% gain, its third-highest return and biggest since 1986. Its long-term investment goal: an average 5% real rate of return.

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    Not too shabby.
     
  2. Lord Blackadder macrumors G5

    Lord Blackadder

    Joined:
    May 7, 2004
    Location:
    Sod off
    #2
    It's known as the Permanent Fund Dividend, or PFD.

    It's a consumer bonanza. Everyone goes out and buys a big TV, aftermarket accessories for their truck and/or alcohol or recreational drugs. Every store has a "Spend your PFD here!" sign out front. The police work overtime when the PFD rolls in.
     
  3. AppleScruff1 macrumors G3

    AppleScruff1

    Joined:
    Feb 10, 2011
    #3
    The thread title makes it sound like it was a charitable contribution by Apple, but it's not.
     
  4. Tiggs macrumors 6502

    Joined:
    Jul 6, 2011
    #4
    Yep, misleading title. Reality is it was the fund manager who made the smart decision to heavily invest the fund in AAPL shares.
     

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