North Dakota Launches New Website for Its $14-15 Billion Legacy Fund on October 29, With Holdings Searchable by Country and Sector
North Dakota on October 29 launched a new public website for its Legacy Fund, giving the public a view into where this sovereign wealth fund of roughly $14 billion to $15 billion is invested. The Legacy Fund is financed by oil taxes; the website, at legacyfund.nd.gov, covers the fund's history, governance structure and investment holdings, which can be searched by country, region, economic sector or investment type.
The site was developed by Tactis for the State Retirement and Investment Office at a one-time cost of about $500,000, plus licensing and maintenance fees, and investment data will be updated once a year rather than reported in real time. The site also has limits: 75 line items on the holdings page, totaling $6.4 billion or about 42 percent of the fund, are listed only as pooled funds or cash without itemizing the underlying investments, on proprietary-information grounds.
State Representative Bernie Satrom, who pushed for the 2025 legislation creating the site, said the website is still some distance from true transparency and that he may introduce legislation in the session beginning next January addressing pooled funds and the open records law. Officials plan to add data on oil-tax deposits into the fund by year-end, and the public can submit questions through a contact form on the site. The fund's transparency has long been a focus of the North Dakota Legislature.
Source: GSM · USA (original Chinese edition)
Photo: 北达科他州议会大厦，位于俾斯麦 / The North Dakota State Capitol in Bismarck. Photo: Quintin Soloviev, CC BY 4.0, via Wikimedia Commons.
