WHO WE ARE

APFC is a state-owned corporation, based in Juneau, that manages the assets of the Alaska Permanent Fund and other funds designated by law, such as the Alaska Mental Health Trust Fund.

The APFC Board of Trustees has established By-Laws, Governance and Investment Policies, and Resolutions to support an efficient and effective management structure.

Our vision is to deliver OUTstanding returns

for the benefit of all current and future generations of alaskans

Total Fund Value

as of August 31, 2025

$83,255,200,000

Rate of Return FYTD AS OF July 31, 2025: 0.35%

9.15% over 5 years

Chart.js Donut Charts

End of FY25

Audited
Fund Values
as of June 30, 2025

FY26

Unaudited
Fund Values
as of Aug 31, 2025

Learn more about the Fund's Structure

49 Forward for Generations of Alaskans

September 26, 2025

Alongside the release of the 2025 Alaska Permanent Fund Corporation Annual Report “49 Forward,” CEO & Executive Director Mitchell wrote an opinion piece titled, “49 Forward for Generations of Alaskans” on Alaska’s history, the Fund’s performance, and the path forward with a single-fund endowment.

“I was born about a decade after Alaska became the 49th state, and have shadowy memories of life before oil revenue poured in. The preparedness to take care of ourselves demonstrated by gravel and shovels in the back of trucks during the winter, the limited access to markets reflected in ordering clothes out of a 2-inch-thick JCPenney catalog once a year, or the reality of drinking powdered milk because that’s what was available, were not unique to my household.

The Alaska Permanent Fund embodies that generation’s pioneering, hardy spirit. Those Alaskans, who had far less than we do today, selflessly chose to transform a portion of our resource wealth into a renewable financial resource for future generations rather than spend it on themselves. That foresight and generational sacrifice have proven invaluable to our quality of life today. Out of respect for the past and with the vision of a vibrant future, the Alaska Permanent Fund Corporation (APFC) is committed to ensuring the Fund continues to be a source of strength, stability, and shared prosperity for every Alaskan. At this 49-year mark, APFC’s mandate remains clear: protect and grow the Alaska Permanent Fund for all
generations.”

Click here to read the whole piece, “49 Forward for Generations of Alaskans.

 


Fund News


Fund News

49 Forward for Generations of Alaskans September 26, 2025

Alongside the release of the 2025 Alaska Permanent Fund Corporation Annual Report “49 Forward,” CEO & Executive Director Mitchell wrote an opinion piece titled, “49 Forward for Generations of Alaskans” on Alaska’s history, the Fund’s performance, and the path forward with a single-fund endowment.

“I was born about a decade after Alaska became the 49th state, and have shadowy memories of life before oil revenue poured in. The preparedness to take care of ourselves demonstrated by gravel and shovels in the back of trucks during the winter, the limited access to markets reflected in ordering clothes out of a 2-inch-thick JCPenney catalog once a year, or the reality of drinking powdered milk because that’s what was available, were not unique to my household.

The Alaska Permanent Fund embodies that generation’s pioneering, hardy spirit. Those Alaskans, who had far less than we do today, selflessly chose to transform a portion of our resource wealth into a renewable financial resource for future generations rather than spend it on themselves. That foresight and generational sacrifice have proven invaluable to our quality of life today. Out of respect for the past and with the vision of a vibrant future, the Alaska Permanent Fund Corporation (APFC) is committed to ensuring the Fund continues to be a source of strength, stability, and shared prosperity for every Alaskan. At this 49-year mark, APFC’s mandate remains clear: protect and grow the Alaska Permanent Fund for all
generations.”

Click here to read the whole piece, “49 Forward for Generations of Alaskans.

 


EDUCATION

  • Ten years after Alaska achieved statehood, oil was discovered on the North Slope, which led to Alaskans voting to create a Permanent Fund to invest oil proceeds for future generations. The first deposit was $734,000. After 40 years of wise management, APFC has grown the Permanent Fund to more than $83.2 billion. Want to know how we did it?

    Find out more...

  • The Permanent Fund has two parts: the Principal and the Earnings Reserve Account (“ERA”). Both are invested together using the same asset allocation, but they are very different in how they can be used by law: the Principal is permanent savings, the ERA is available to spend.

    Find out more...

  • APFC is a team of financial and legal professionals. It operates as a separate state entity under the oversight of an independent, professional Board of Trustees, who serve as fiduciaries of the Fund. The Board sets investment policy, reviews the portfolio’s performance, and works with management to determine APFC’s strategic direction.

    Find out more...

  • It’s the APFC’s job to prudently manage the assets of the Alaska Permanent Fund. Our staff of professionals works with a team of international managers to invest the Permanent Fund’s billions across eight asset classes in both private and public markets. Under APFC’s stewardship, the Permanent Fund is recognized as one of the best-managed sovereign wealth funds in the world – well poised to serve Alaskans now and for many decades to come.

    Find out more...

  • The Permanent Fund has largely replaced oil as a source of unrestricted revenues for our state government, which means it is more important to Alaskans than ever. We are pleased to present this booklet, which offers the basics of the Alaska Permanent Fund, its history, how APFC manages and invests these assets, and its essential role in Alaska's future.

    Read the Guide...

  • Read APFC's 2025 Annual Report, "49 Forward," for key financial performance metrics, strategic asset allocation, and the results of its annual third-party financial audit. For 49 years, the Fund has transformed resource wealth into a legacy of stability, opportunity, and shared prosperity for every generation.

    APFC Annual Report Cover with an image of a road with Mount Drum in the background.

BONDS

The Fixed Income portfolio acts as an anchor to the Fund and is comprised of Bonds, Emerging Market Debt, TIPS, and Listed Infrastructure. During volatile market cycles, these assets provide stability and a source of liquidity to take advantage of market dislocations. Trading is…read more