The Alaska Permanent Fund lost $1 billion in one day as the stock market collapsed, Anchorage Daily News reports. The fund’s market value reached $40.1 billion at the close of the fiscal year on June 30. The fund, which had a market value of $34.7 billion a year earlier, increased to $40.1 billion on June 30 and then fell to about $38 billion. The fund, which is expected to have recovered nearly $670 million of its recent losses, expects to transfer $800 million to the dividend division for checks to Alaskans in 2011.
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