Lessons From the One Sovereign Wealth Fund in the United States

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 18 August 2025

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

President Trump and others have talked about the idea of the US having a Sovereign Wealth Fund, a la the UAE or Singapore. It feels like a longshot, but as it turns out, there is actually one Sovereign Wealth Fund in the United States, which is the Alaska Permanent Fund. The fund was established in the 1970s to manage the state's booming oil fortune, and ensure that the boom benefitted the residents of the state for years into the future. Today the fund manages over $80 billion, contributing a substantial portion each year to Alaska's state budget, including an annual check paid directly to almost all residents of the state. On this episode, we speak with the fund's CEO Deven Mitchell and CIO Marcus Frampton about how the fund operates, its relationship with the government of Alaska, and how it's investing its money in order to fulfill its purpose long into the future. We also discuss what lessons from the APF could apply to any similar project done at a national level.

Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots

See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0	Creativity is personal.
0:01.8	Your tools should be too.
0:03.3	Lenovo offers a wide range of devices
0:05.1	to match your creative workflow
0:06.8	with powerful GPUs,
0:08.5	color-accurate displays,
0:09.7	and AI tools that help spark, shape and share your vision.
0:13.2	From morning hustle to midnight render,
0:15.6	Lenovo delivers power that never sleeps
0:17.8	because neither do you.
0:19.2	One device, all your worlds. now at lenovo dot com
0:22.9	slash back to school bold ideas brought to life wherever inspiration strikes
0:30.3	hi i'm lisa matteo introducing you to the new Stock Movers Report from Bloomberg.
0:39.1	These are short audio reports, five minutes or less, delivered right to your podcast feed throughout the day.
0:45.6	Stock Movers fills you in on the day's winners and losers on Wall Street and tells you about the news and data that's driving those gains and losses.
0:53.6	If you want to stay plugged
0:54.7	into the stock market, but don't want to spend all day watching tickers scroll across your
0:59.4	screen, then Stock Movers is a place for you to get informed. Listen a couple times throughout the day
1:05.9	to find out what's moving equities and why. Search for Stock Movers on Apple Podcasts, Spotify, or anywhere else you listen.
1:14.9	Get the latest stock news and data backed by reporting from Bloomberg's 3,000 journalists and analysts across the globe.
1:23.5	Subscribe to Stock Movers, wherever you get your podcasts.
1:52.0	Music Subscribe to Stockmovers, wherever you get your podcasts. Hello and welcome to another episode of the Odd Lots podcast.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Bloomberg, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Bloomberg and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.