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 October 31, 2024

$79,010,400,000

Rate of Return FYTD AS OF September 30, 2024: 3.61%

8.74% over 5 years

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$79.0B

Unaudited
Fund Values
as of October 31, 2024

Learn more about the Fund's Structure

Fund News


Fund News

Q&A Video: APFC Leaders Discuss Asset Allocation and Risk Management Strategy November 14, 2024

In a recent discussion, APFC’s Chief Investment Officer Marcus Frampton and Chief Risk Officer Sebastian Vadakumcherry provided insights into the Alaska Permanent Fund’s strategic approach to asset allocation and risk management.

In this nine-minute video, Frampton and Vadakumcherry emphasize the importance of a long term perspective, free from non-financial or political bias, to ensure the Fund’s growth and sustainability for future generations of Alaskans.

Frampton highlighted how APFC leverages Modern Portfolio Theory, a mathematical framework for maximizing return at an accepted level of risk, to construct a diversified portfolio.

Vadakumcherry underscored the need for continuous portfolio monitoring and risk adjustments. While APFC takes a long-term approach, short-term market conditions are regularly assessed to fine-tune the Fund’s exposure to both public and private markets.

The conversation also touched on the Fund’s evolution, with APFC consistently adding new asset classes to adapt to changes in the global market.

Watch the full video here to learn more about how the Alaska Permanent Fund is Managed.


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 $79.0 billion. Want to know how we did it?

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  • 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.

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  • 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.

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  • 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.

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  • 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...

  • Find out what made FY24 an interesting year in the APFC Annual Report: Illuminating the Future. Learn more about APFC’s operations, strategies, and investments in the latest Annual Report.

    The Cover of the 2024 Annual Report showing northern lights above a mountain rangeRead the Report...

BONDS

The Fixed Income Plus 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