Alaska Permanent Fund grew by more than $6B in fiscal year

ANCHORAGE, Alaska (AP) — The Alaska Permanent Fund grew by $6.3 billion during the state’s 2018 fiscal year, reaching a value of nearly $65 billion.

Strong market returns have bolstered the fund in recent years, giving it gains of more than 12 percent in 2017 and nearly 11 percent during the fiscal year that ended in June, the Alaska Journal of Commerce reported Wednesday.

The fund ended the fiscal year with $46.1 billion in principal and $16.4 billion of net income in its Earnings Reserve Account, which also held $2.4 billion in unrealized gains, according to Alaska Permanent Fund Corp.

The f...