Legacy Fund

Monthly deposits.

Legacy Fund data here.

Legacy Fund financial statements.       

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 

May, 2019: annual report; total assets stand at $5.4 billion. Callan Investment doesn't change investment mix. Everyone happy. 

May, 2019: the May, 2019, deposits, up nicely from previous month.

April, 2019: the April, 2019 deposits, down slightly from previous month. 

March, 2019: the March, 2019, deposits recover from the February, 2019, deposits. 

January, 2019: huge drop in deposits, as expected. 

December, 2018: despite significantly lower oil prices, December deposits were greater than the previous month. 

July, 2018: huge jump.

June, 2018: nice recovery.

May, 2018: deposits "recover." May 25, 2018: earnings top $1 billion; Callan Investment doesn't change investment mix. Everyone happy. 

April, 2018: deposits take a surprising drop. 

September 10, 2017: Legacy Fund deposits break through $4 billion (deposits only; not net assets). [Note: actually, this appears to have happened in August, 2016 -- see below.]

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 earnings
• 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