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BOISE - Idaho's endowment fund hit a record high of $1.73 billion after earning high returns on its investments over the past year.

Investment manager Larry Johnson told the Idaho Land Board on Tuesday that the fund during the fiscal year that ended June 30 earned its second-highest amount in its history.

This is also the second year in a row the fund hit an all-time high.

That means there will be an increase in how much the fund can distribute to public schools and other endowment beneficiaries.

The board will listen to recommendations on how to spend the fund's earnings later this year.

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