Alaska Permanent Fund Corp., Juneau, will try a different tactic in its effort to raise the legislatively imposed 50% limit on its equity allocation. The $25 billion fund will seek authority to add a 5% discretionary allocation that the fund could invest any way it chooses. The money would likely go into stocks if the fund receives legislative approval, said Jim Kelly, director-communications. Fund officials plan to present the proposal to leaders of the joint state Senate and House Legislative Budget Committee in late March, he said. In addition, fund officials will seek legislation to lift the limit on the value of real estate deals in which the fund can be the sole investor. Now, under law, the fund may not be the sole investor in any real estate deal valued at more than $150 million. For larger deals, the fund must have at least one co-investor that owns at least one-third of the deal. The unlimited discretion would give the fund more flexibility, he said.