The Alaska House of Representatives has started hearing a bill that would compel the state of Alaska to dump its investments in Russia, while Gov. Mike Dunleavy is set to introduce his own divestment bill next week.
in Russian investments that the fund held at the end of December. They note that their current valuations are “highly speculative,” but it’s expected that they’ve plummeted in value by over 90%.
Revenue Commissioner Lucinda Mahoney, who is also a member of the Permanent Fund’s board of trustees, said on Thursday that a majority of her fellow trustees would want to hold onto the state’s Russian investments in case they increase in value again. On Thursday, Mahoney said Dunleavy’s bill would not impact the $81 billion managed by the Alaska Permanent Fund Corp. or the $50 billion managed by the Alaska Retirement Board.
“The governor was concerned about compromising returns,” Mahoney said about Dunleavy’s more limited divestment proposal.
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