Alaska Gov. Frank H. Murkowski is expected to sign legislation to give trustees of the $30.1 billion Alaska Permanent Fund Corp., Juneau, authority to set their own asset mix, according to fund officials. The governor's office did not respond to a request for comment by press time.
The bill would eliminate the current requirement that the fund get legislative approval for exceptions to its legal list of investments. Instead, the fund would be charged with maintaining the list, meaning changes could be accomplished more quickly. The bill was approved by the state Senate on May 8.
Currently, state statute limits the fund's equity investments to 55% of total assets, bars fixed-income investments outside core bonds, restricts real estate to 15% of assets and provides a basket clause of up to 10% of assets.
Becky Hultberg, the governor's press secretary, declined to comment.
