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February 26, 1999

Staff Market Outlook as of Early February

FEBRUARY 10 - Domestic economic growth has been surprisingly strong. Inflation remains low. Financial markets are responding to international crisis in subdued fashion. Yet substantial global problems exist and continue to develop. Europe in particular is showing potential for economic slowing, on top of continued Latin American and Asian weakness. The U.S. remains an island of prosperity amid continuing global strains. Going forward, markets will focus on whether this disparity can continue, or how and when the overall U.S. economy will be impacted by widespread global economic weakness. (more)

Staff Market Outlook as of Early January

JANUARY 6 - The start of 1999 suggests new possibilities for global financial markets, with equities reaching new heights, continued domestic economic strength, and recent world crises fading into relative obscurity. Discipline argues for a review of global circumstance, however, to determine the extent to which world economies has warranted a more positive outlook for financial assets. Given a worsening Japanese economy, the continuing Brazilian threat to global financial stability, continued Asian and South American economic weakness, and further indications of potential slowing for the US economy, belief in continuation of last years trends is somewhat compelling. With domestic financial asset appreciation continuing versus the disparity of a potentially worsening global backdrop, caution is warranted. (more)

Fund's Stock Index Manager to Become Part of Global Bank

DECEMBER 11, 1998 – The planned acquisition of the Alaska Permanent Fund Corporation’s (APFC) largest money manager by a leading European bank marks a change in ownership, but no change in the way the Fund’s $4.9 billion in index accounts are managed. Deutsche Bank AG of Germany announced December 1 that it would acquire Bankers Trust for $10.1 billion. (more)

Staff's Market Outlook as of Early December

DECEMBER 3, 1998 - As part of a regular report to the Board of Trustees, the APFC investment staff today released its own commentary on the recent turmoil in the global financial markets. The report includes a description of recent actions taken to position the Permanent Fund for these volatile markets. (more)

APFC Selects Manager for New Portfolio

ANCHORAGE - Lend Lease Real Estate Investments, an Atlanta-based firm with regional offices across the nation, has been selected to manage the Alaska Permanent Fund's new $300 million mortgage portfolio. (more)

Permanent Fund Dividend Sets Another Record at $1,540.88

The Alaska Permanent Fund dividend set a new record again this year -- the fifth year in a row. The 1998 dividend of $1,540.88 is $244.34 more than last year’s check and four times the amount of the 1983 dividend. (more)

APFC Pays Out $864 Million for Dividends
The Alaska Permanent Fund Corporation (APFC) authorized a wire transfer on October 1 to the State of Alaska in the amount of $863,981,876.37 to fund the 1998 Alaska Permanent Fund Dividends.

Celebrate Alaska! at Fiesta Mall in Arizona

Fiesta Mall, a Phoenix, Arizona shopping center owned 40% by the Alaska Permanent Fund, will be hosting a week-long celebration of the cultural arts and history of the State of Alaska beginning September 28. The mall is hosting the event to inform the community about the 49th state and to promote Alaska tourism and products made in Alaska. (more)

Fund Earnings Top $2.5 Billion; Income Exceeds Oil Revenues

JUNEAU - Strong equities markets, driven by the rising valuations of the nation's largest companies, propelled the Alaska Permanent Fund to record levels in fiscal 1998. (more)

4th Quarter Report: Fund Ends Year With Record Earnings

As a fitting footnote to a remarkable year, the Alaska Permanent Fund exceeded the $25 billion mark as fiscal 1998 came to an end.

On June 30, 1998, the Fund stood at $25.06 billion, an increase of $3.4 billion over the year, and $1.2 billion in the fourth quarter alone. Preliminary, unaudited figures show the Fund ended the fiscal year with net earnings of $2.59 billion, some $559 million more than the record set in fiscal 1997. (more)


Daily Unaudited Position

as of February 26, 1999
Fixed Income $10,958,200,000 44%
U.S. Equities $8,676,300,000 35%
Non-U.S. Equities $3,237,600,000 13%
Real Estate $1,930,800,000 8%
Alaskan CDs $190,000,000 1%
TOTAL $24,992,900,000 100%


growth of fund graph
This graph shows the relationship between all state oil revenues and Fund earnings. Actual and projected to 2020.

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