Known as the "people's fund," North Dakota's Legacy Fund was created by a constitutional amendment that was initiated by the state legislature and approved by voters. The State Investment Board (SIB) is responsible for administration of the fund. The Legacy and Budget Stabilization Fund Advisory Board serves as the client board and determines the asset allocation.
Thirty percent of the taxes on petroleum produced and extracted in North Dakota are transferred to the Legacy Fund monthly. At the end of each biennium, the fund earnings (as defined by NDCC 21-10-12) are transferred to the state's general fund where they are used to finance a portion of state projects and provide tax relief.
**PLEASE NOTE: Monthly numbers are preliminary and subject to change.
Financial Statements
Performance Reports
Investment Performance Quarterly Review
Investment Performance Quarterly Review
Asset Allocation Study
Legacy Fund Asset Allocation Study
May 22, 2025 SIB Executive Search Committee Meeting
Thursday, May 22, 2025 at 09:00 am
Categories: SIB MeetingsSIB elects Armstrong as chair, approves interim director offer, and launches executive search
Friday, January 3, 2025
Categories: SIB NewsAt a special meeting today, the State Investment Board elected Gov. Kelly Armstrong as its chair, reaffirming the Board’s commitment to strong leadership.
State Investment Board will transition to new leadership for 2025
Friday, November 22, 2024
Categories: SIB NewsThe State Investment Board recognized outgoing leadership at its meeting today, extending its appreciation for two board members and the Retirement and Investment Office’s executive director for their impactful work on behalf of North Dakota citizens.
Legacy Fund Report: more than $450 million in 40 North Dakota businesses and communities
Thursday, November 14, 2024
Categories: SIB NewsA report to the Legacy and Budget Stabilization Fund Advisory Board highlighted the progress of the Legacy Fund’s in-state investment program. At the close of the fiscal year, more than $450 million was committed to 40 North Dakota businesses and communities. To tap additional in-state opportunities, the State Investment Board will add another investment manager to the program’s roster next year.
North Dakota’s Legacy Fund is a sovereign wealth fund designed for long-term prosperity
Thursday, November 7, 2024
Categories: SIB NewsThe Legacy Fund, North Dakota’s sovereign wealth fund, is a strategic asset dedicated to securing long-term financial stability that will allow North Dakotans to benefit from the state’s natural resources for generations to come. With the passage of Measure #3, the fund’s potential is even greater because more dollars can be invested long-term.
North Dakota’s Legacy Fund Demonstrates Responsible, Strategic Investment for Long-Term Growth
Thursday, October 31, 2024 at 01:00 am
Categories: SIB NewsSIB members say they fully support transparency in the state’s Legacy Fund but caution that any proposed legislation aimed at the Legacy Fund should avoid harming its stability and growth or jeopardizing its in-state investment program.