Juneau, Alaska (KINY) - The executive director of the Alaska Permanent Fund Corporation talked about the size of Alaska's nest egg on Action Line Monday,
As of October 18 when last week was closed out , Angela Rodell said the fund amounted to $62,069,400,000.
Rodell was asked how the fund is approaching the current market that some feel is overheated. Do you pull back or plow ahead?, she was asked. "I think the quick answer to that is the plow ahead approach. It's because we're a long term investor. We're in it for perpetuity. We're not in it for short term, overnight gains. flip and switch."
She said they believe in the stock market and continue to move ahead with the strategies that they feel have have been successful. "We expect a market correction, of course, which is why we're a diversified portfolio, not all in the stock market," she said.
The corporation's board of trustees set the target allocation for the fund's investments during its annual meeting late last month. Rodell said the trustees chose not to make any changes. "They still believe in the allocation that we have which has about a 40 percent weight to stocks, about a 20 percent weight to fixed income and the balance of 40 percent goes in to real estate and alternatives such as hedge funds or private equity or infrastructure type investments."