JUNEAU, Alaska (AP) — Alaska’s governor has named an investment executive with the Alaska Native Tribal Health Consortium to serve on the board of the Alaska Permanent Fund Corp.
Republican Gov. Mike Dunleavy appointed Ethan Schutt last week to serve as a trustee of the $67 billion fund, Alaska Public Media reported Monday.
“The permanent fund touches every Alaska household, so it’s an awesome responsibility,” said Schutt, who will serve a four-year term on the board.
The state-owned corporation in Juneau manages the financial assets of the Alaska Permanent Fund and smaller state funds.
The state Department of Revenue announced in June that the 2020 Alaska Permanent Fund dividend for each resident would be $992, which is the smallest dividend payout since 2013.
The annual meeting of the Permanent Fund Corp.’s board is scheduled for Sept. 23 and 24.
Schutt currently manages the tribal health consortium’s investment portfolio as the CEO of Alaska Native Resource Development.
Schutt also served as general counsel for Tanana Chiefs Conference and as an executive for Cook Inlet Region Inc. with oversight of the organization’s energy investment portfolio and land, including oil and gas leasing.
The attorney and former law clerk for Alaska Supreme Court Justice Walter Carpeneti said he wants to strengthen the permanent fund for the long-term benefit of residents.
Schutt, who was raised in Tok in eastern Alaska, also serves as chair of the board of Alaska Pacific University.