INVESTING FOR ALASKA

INVESTING FOR THE LONG RUN

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.

Our vision is to deliver sustained

and compelling investment returns

Total Fund Value

as of October 31, 2019

$64,812,600,000

Principal $48.2 Billion | ERA $16.6 Billion

Principal

$48.2 B

Contributions: $41.6 B | Unrealized Gains: $6.6 B

Earnings Reserve Account

$16.6 B

Realized Earnings $6.6 B | Unrealized Gains $2.3 B

Realized Committed $7.7 B (FY21 POMV $3.1B, FY20 Inflation Proofing FYTD 0.6B, and FY20 Special Appropriation to Principal $4.0B)

Value Added

AS OF June 30, 2019

$6.2 B

VS PASSIVE BENCHMARK OVER 5 Years

Rate of Return

FYTD AS OF June 30, 2019

6.32%

7.13% OVER 5 YEARS

APFC’s Board of Trustees Considers Fund’s Evolving Role December 5, 2019

The Board of Trustees held its quarterly meeting in Fairbanks, Alaska on December 3-4, 2019. During the meeting, the Board examined the first-quarter investment performance of the Fund for the fiscal year 2020 (FY20) and discussed the paradigm shift of the Alaska Permanent Fund to an annual value-based methodology for consistent and stable withdrawals from the Earnings Reserve Account (ERA).

Chair Craig Richards notes that “the transition to the Permanent Fund contributing to state revenues through the Percent of Market Value (POMV) has created several new issues the Board of Trustees and state policymakers need to work through. Perhaps the most important is the risk that repeated bad years of market returns could result in the ERA not being able to fund state government and the dividend.  The Board of Trustees looks forward to developing a deep understanding of this risk, and developing recommendations to minimize it.”

Full news release: 201912_APFC BOT Quarterly Meeting News Release


Fund News


Fund News

APFC’s Board of Trustees Considers Fund’s Evolving Role December 5, 2019

The Board of Trustees held its quarterly meeting in Fairbanks, Alaska on December 3-4, 2019. During the meeting, the Board examined the first-quarter investment performance of the Fund for the fiscal year 2020 (FY20) and discussed the paradigm shift of the Alaska Permanent Fund to an annual value-based methodology for consistent and stable withdrawals from the Earnings Reserve Account (ERA).

Chair Craig Richards notes that “the transition to the Permanent Fund contributing to state revenues through the Percent of Market Value (POMV) has created several new issues the Board of Trustees and state policymakers need to work through. Perhaps the most important is the risk that repeated bad years of market returns could result in the ERA not being able to fund state government and the dividend.  The Board of Trustees looks forward to developing a deep understanding of this risk, and developing recommendations to minimize it.”

Full news release: 201912_APFC BOT Quarterly Meeting News Release


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BONDS

The Fixed Income Plus portfolio acts as an anchor to the Fund and is comprised of Bonds, Emerging Market Debt, TIPS, REITs, 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