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


    Feb 5, 2009

    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.


    Not too shabby.
  2. Lord Blackadder macrumors G5

    Lord Blackadder

    May 7, 2004
    Sod off
    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


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

    Jul 6, 2011
    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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