How's that Permanent Fund?

According to the Juneau Empire, the Alaska Permanent Fund Board of Trustees heard some good news on Wed. (2/24). The Permanent Fund "far exceeded its expected return" in 2009. Last year's 18.76-percent return isn't enough to erase the wicked dive the fund took in 2008, losing nearly 25 percent, and the fund fell slightly behind similar funds during the same year, but the upturn is a good sign. Also mentioned is a recent board decision to allow a different type of investment (one with higher risk and higher reward), which may help increase the returns for 2010. Read more here. Also, earlier this week, the Empire reported on how the fund's board plans to simplify its investments by reducing the number of its outside money managers. Read that report here.