North Dakota Legacy Fund

United States – North Dakota US$ 716 million
Established: 2011
Transparency Rating: 6
View Sovereign Fund Transaction Data
View Asset Allocation		 Origin: Oil & Gas
Firm Investment Style: N/A
Entity Structure: Fund
Pop Est.: 699,628 – 2013 ND
Wealth Per Capita Est.: $1,023
Summary
The North Dakota Legacy Fund is funded by oil tax revenue.

The principal and earnings of the legacy fund may not be expended until after June 30, 2017, and an expenditure of principal after that date requires a vote of at least two-thirds of the members elected to each house of the legislative assembly. Not more than fifteen percent of the principal of the legacy fund may be expended during a biennium.

Background
The voters of the state of North Dakota (United States) approved a constitutional amendment to create the permanent fund. It will receive 30% of the state’s taxes on oil and gas production and extraction. It will be then transferred to a special fund in the state treasury.

Strategy & Objectives
Currently, the fund is managed in conservative investments.

Governance
The state investment board of North Dakota invests the principal of the North Dakota legacy fund.

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