- Associated Press - Thursday, August 20, 2015

JUNEAU, Alaska (AP) - The value of the Alaska Permanent Fund reached $52.8 billion following better-than-expected investment returns, a gain of $1.6 billion over the prior year.

The preliminary, end-of-fiscal year figure was released by the Alaska Permanent Fund Corp. on Thursday, and reflects the value after accounting for a $1.4 billion transfer for the annual dividend paid to most Alaskans.

The corporation reported that the fund’s investments gained 4.9 percent for the fiscal year ending June 30.

Acting executive director Valerie Mertz called it a solid performance, given the volatility in the market. The corporation had reported double-digit increases the prior two years.

The fund, which had been set up as a nest egg for the state using some of Alaska’s oil revenue, has a broad portfolio of investments.

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