Permanent Fund reaps 3.3 percent return

The Alaska Permanent Fund's investments returned 3.3 percent October through December, the fund's second quarter. The stock market rally that started earlier last year slowed during the quarter, the Alaska Permanent Fund Corp. said.

The state oil-wealth savings account's portfolio of U.S. stocks returned 5.9 percent for the quarter, while non-U.S. stocks returned 4.5 percent and global stocks returned 4.8 percent during the three months, the corporation said.

The fund's bonds had lower returns: 1.1 percent for U.S. bonds and 0.3 percent for foreign bonds.

The fund's private-equity and hedge-fund investments returned 2.3 percent. Real estate was down 0.7 percent.

The market value of the fund's investments stood at $34.6 billion on Dec. 31. That value has fallen since then because stock markets are down -- the value was $33.6 billion as of Monday.

The fund managers said in the first six months of its budget year, the fund's statutory profit -- the number used to calculate the state's annual Permanent Fund dividend payment to Alaskans -- was $385 million. They are projecting this profit will reach $727 million at year end on June 30. If the year-end number is lower than about $1.7 billion, this year's dividend likely will be less than the $1,305 per Alaskan paid last October.

Ocean award goes to Kenai Fjords

Kenai Fjords Tours' Marine Science Explorers Program received the 2010 Alaska Ocean Leadership Award for Ocean Literacy. The award was presented recently to Kenai Fjords Tours at the Alaska SeaLife Center's Alaska Marine Gala in the Dena'ina Center.

The Alaska Ocean Leadership Awards were established to encourage and recognize outstanding achievements related to ocean sciences, education and management. Kenai Fjords' Tours' Marine Science Explorers Program has made a breakthrough in promoting ocean literacy in Alaska among a segment of the general population via formal or informal education, outreach or other communications.

The award was sponsored by The Centers for Ocean Sciences Education Excellence.

Dessert bakery opens on Fourth

Alaska Cake Studio, specializing in freshly baked desserts, has opened at 608 W. Fourth Ave., next to the 4th Avenue Theatre.

The bakery creates custom desserts for any occasion, including weddings and birthdays, and offers desserts and pastries, chocolates, select baking supplies, and classes in baking and making chocolates, as well as espresso drinks and tea.

Call 272-3995 for more information.

Palmer agency joins association

Pippel Insurance Agency Inc. Surety has been selected for membership by the National Association of Surety Bond Producers. Pippel Insurance of Palmer, through membership in NASBP, will work to strengthen the surety industry and provide customers with the best surety solutions.

The National Association of Surety Bond Producers' membership requirements demand that annual surety premium volume be underwritten in two or more corporate sureties.

Growth Company gets new home

The Growth Company Inc. has relocated to 711 H St., Suite 440. "We are excited about this move, which is in keeping with our business expansion and allows us access to a greater training room capacity," said Lynne Curry, owner of the HR consulting, training and facilitation business.