Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Legacy Fund posts modest outperformance as Legislature raises spending rule to 8%
Summary
The Legacy Fund’s investment office reported slightly higher-than-expected returns through February, explained a one-time biennium earnings calculation and outlined the effect of legislative changes that raised the spending rule from 7% to 8% per biennium.
Scott Anderson, Chief Investment Officer of the Retirement and Investment Office, told the Legacy and Budget Stabilization Fund Advisory Board on May 20 that the Legacy Fund returned 6.5% over 10 years and held about $12.1 billion in assets as of Feb. 28, 2025.
He said the fund’s 10-year return “was about 6.5%” and noted that implementation added roughly 70 basis points of excess return versus the benchmark. Anderson also told the committee “the biennium earnings … was about $600,000,000” as of the June 30, 2024 mark used for legislative reporting, and that legislative changes raised the statutory spending rule.
The committee’s context: why this matters
The Legislature amended the spending rule for the Legacy Fund in bills identified in the meeting as House Bill 1176 and Senate Bill 2012; the change…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
