Officials with the Alaska Permanent Fund said it ended the second quarter of the 2012 fiscal year with $38.6 billion, a 4.2 percent gain in the quarter. The fund ended the first quarter with $37 billion.
Fund officials said in a statement that stocks had the best return in the second quarter, up more than 12 percent.
CEO Mike Burns said 2011 was challenging because of several factors, including natural disasters and the European debt crisis. However, the gains seen this quarter "and the performance in early 2012 suggest that the worst is hopefully behind us."
Despite the gains in this quarter, the fund still remains in negative territory, at minus 4.5 percent, for this fiscal year.
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