Thursday, November 5, 2015

Legacy Fund

Legacy Fund data here (unfortunately this just shows the deposits, not the net asset value). 

North Dakota state government site: Legacy Fund.

North Dakota budget: probably easiest to read is at Ballotpedia.

North Dakota state office of management and budget.

Legacy Fund News
Politics, June 18, 2016
     Updates

    September 10, 2017: Legacy Fund deposits break through $4 billion (deposits only; not net assets).

    November 30, 2016: total deposits (this is not the net asset value) -- $3,700,055,301 through November, 2016. A little over $3.7 billion. It looks like $59 million was deposited in October and November, averaging about $30 million/month; comparable to deposits in September, 2016. OPEC meeting today cut production; price of oil jumped from around $45 to $49.

    September, 2016, from The Dickinson Press:
    • equity (common stock): 50%
    • fixed-income assets: 35%
    • diversified real assets: 15% (real estate, 5$; infrastructure and inflation-linked securities, 10%) 
    • has generated a return of 2.8% annually since inception
    • a revised investment strategy adopted in 2013 set the long-term goat at 4.6%, but returns so far have fallen far short, just 1% for the most recent fiscal year that ended June 30
    • lawmakers cannot spend from the Legacy Fund until July 1, 2017; but then in 2017, Legacy Funds must start to be transferred to general fund
    • 2017 - 2019, biennium expectations: the Fund should generate about $120 million in earning
    • the politicians will start to debate whether / when to start spending that money
    Through September 2016, total deposits were $3,640,877,477. Another $31.9 million was deposited in September; slightly above this year's average but below August's deposit of $35.3 million, and a far cry from record high deposit of $117 million in August, 2014 (just before the Saudi surge and Saudi's trillion-dollar mistake)
    At the of August, 2016, assets valued at $4.012 billion.
    Through July 2016, total deposits were $3,573,621,493.
    Through June, 2016, with June deposits of $28 million, total deposits will go to $3.8 billion. Schmidt said the Legacy Fund will hold $3.8 billion with the June transfer of $28.3 million.
    Through March 2016, total deposits were $3,464,584,292.
    Through February 2016, total deposits were $3,441,607,729.
    Through December 2015, total deposits were $3,371,343,566.76.
    November 5, 2015: funding the Red River Valley Water Supply Project
    September 22, 2015: $3,258,677,188.91.
    June 16, 2015: fees
    October 18, 2014: Legacy Fund ballooning
    July 17, 2014: Legacy Fund receives biggest deposit to date -- $112 million
    June 23, 2014: the cash piles up
    May 30, 2014: strategy for investing Legacy Fund deposits
    May 22, 2014: fund goes over $2 billion; now averaging $80 million / month in deposits
    February 12, 2014: North Dakota budget and fund
    August 29, 2013: update on Legacy Fund
    April 16, 2013: fund tops $1 billion
    May 2, 2011: North Dakota budget

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