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 December 31, 2025
$86,262,400,000
Rate of Return FYTD AS OF December 31, 2025: 6.63%
7.92% over 5 years
$86.3B
Unaudited
Fund Values
as of Dec, 31 2025
EDUCATION
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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 $86.3 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 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.
