Monday, June 12, 2017

Legacy Fund Update Through May, 2017 -- Almost $4 Billion In Total Deposits

Legacy Fund:
  • Most recent deposit, May 19, 2017: $33,545,488
  • Total historical deposits: $3,903,572,369
Note: these are deposits only, not asset value.


It seems, at least for me, it is hard to find the "net asset value" of the Legacy Fund. A quick google search revealed that, as of September 30, 2016:
Less than six years after North Dakota residents voted to sock away oil and gas tax collections for future generations, the Legacy Fund has topped $4 billion in value, a “phenomenal” feat the state’s chief investment officer said speaks to the state’s fiscal conservatism.
From an earlier post:
According to the state's annual budget report released June 30, 2016, data points for the Legacy Fund (and this is why the fund's investment strategy is not talked about much):
  • fair value: $3,809,485,184
  • rates of return (for fiscal year ending 6/30):
    • 2016: 1.06%
    • 2015: 3.31%
    • 2014: 6.64%
    • 2013: 1.15%
    • 2012: --
An Apple A Day ....


  1. I'm not sure I understand this. If the State of North Dakota were selling it's own assets I could understand a legacy fund. But saving the proceeds from taxing assets belonging to someone else for future generations doesn't make sense to me. Give North Dakota taxpayers a tax break now - let future generations deal with future generations issues both good and bad. Let the current generation deal with current generation issues good or bad. That's the way I see it.

    1. As the fund grows, there will probably be more pressure to change the law. I have less problem with the Legacy Fund than I do with other state tax and spend issues.