By Mary Lynne Dahl
March 04, 2006
In a letter dated January 13, 2006, Mr. Burns said " The APFC is bound by AS 37.13.200 to hold confidential the particulars of the business or affairs of a private enterprise or investor. Private equity and absolute return managers are private firms through which we invest. The underlying information regarding their investment strategies and the particulars of their private partnerships and the funds in which they invest may not be released".
Clearly, the rationale is that the Permanent Fund Board of Trustees is using state law to hide behind in their efforts to maintain a veil of secrecy over some of the investments in the Permanent Fund. The law (AS37.13.200) is interesting because it appears to actually mandate the secrecy to which I and Mr. McGillvray so stenuously object. Only the legislature can solve this problem, which was my point. The law should be reversed.
Mary Lynne Dahl
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