Permanent Fund proposition
The Alaska permanent Fund has created a great team of wisely operating investors. They do the best to make our investment keep growing. But the size of their portfolios is limited by the flexibility of the current Permanent Fund. Why don't we add one more function to the Permanent Fund, so it becomes also the Mutual Fund?
That means that Alaskans could invest their money in their own Permanent Fund, receiving even better dividends than if they invest in the out-of-state mutual funds. And as a result, with more money in stock the Permanent Fund's assets would increase faster, and the dividend checks become bigger.
Alaskans could get the choice of either receiving the annual dividend, as happens now, or to transferring that money into their account in the Mutual Permanent Fund, as well as investing unlimited amounts of their own money into that fund.
We could also accept investments to our "Alaskan Permanent Fund" from out-of-state investors and other mutual funds. As a result, our fund could become the biggest and the best mutual fund in the world, and the Alaska economy would receive most of the income from this fund. Alaska could become the "Eldorado" for its residents.
Why don't we go this way?
---- Fyodor Soloview
Anchorage
SOURCE: Anchorage Daily News,
Anchorage, Alaska, December 29, 1998
