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.
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.
