Alaska Permanent Fund, Juneau, had $30 billion in assets as of June 30, the end of its fiscal year, sustaining a 17.4% loss from the year earlier, according to a news release.
“I can’t say we’re out of the woods yet, but the market rally that began in March allowed the fund to return 11.2% in the final quarter of the fiscal year,” CEO Michael J. Burns said in the release.
Overall, stocks sustained the largest hit for the fiscal year, with its domestic equity portfolio down 24.8%, while global equity portfolios returned -31.4% and non-U.S. equity portfolios, -31.3%. Real estate returned -15.3% and absolute return, -13.6%. Non-U.S. and U.S. bonds were both in positive territory, returning 3.6% and 3.3%, respectively.
“2008 was one of the five worst years in the 218-year history of the U.S. stock markets, and it certainly took its toll on the fund,” Mr. Burns said in the release.