BISMARCK, N.D. (AP) _ Assets from North Dakota's oil tax ``Legacy Fund'' are now being shifted to the stock market and other investments.
North Dakota's Investment Board voted Friday to begin building the fund with a broader investment policy.
Voters approved the fund in 2010 and none of the money can be spent until 2017. Oil revenue began coming into the fund since 2011. Analysts initially estimated it would have a $618 million balance on June 30. The fund has more than $1 billion now.
Revenue from the fund has been invested mostly in short-term, low-risk and low-return U.S bonds. But annual earnings from the fund were only about 1.6 percent last year.
The new strategy is estimated to bring an annual return of more than 6 percent.