Tony Gray's book 1,000 miles From Wall Street extolled the clarity investors can find far from the noise and haste of financial centers. In the wake of recent volatility, perhaps an idea from 3,000 miles away could be even better.
Juneau, Alaska is home to the Alaska Permanent Fund Corporation, the locus of a roughly $40 billion state fund. While small by the standards of Middle East sovereign wealth funds, the Alaska Permanent Fund is unique among states. The fund found its genesis in the state's oil wealth and it has paid a dividend to every resident since 1982. The amount is based on a five-year average of the fund. Founded in 1980, the APFC is frequently cited as among the most transparent sovereign wealth funds in the world, and its history, investments and historical performance can be viewed at its website.
Juneau, Alaska is home to the Alaska Permanent Fund Corporation, the locus of a roughly $40 billion state fund. While small by the standards of Middle East sovereign wealth funds, the Alaska Permanent Fund is unique among states. The fund found its genesis in the state's oil wealth and it has paid a dividend to every resident since 1982. The amount is based on a five-year average of the fund. Founded in 1980, the APFC is frequently cited as among the most transparent sovereign wealth funds in the world, and its history, investments and historical performance can be viewed at its website.
