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 May 31, 2024

$80,180,200,000

Principal

$56.9B

Unrealized Gains: $12.3B

ERA Uncommitted

$3.9B

+ Committed FY25 POMV $3.7B
+ FY24 Inflation Proofing $1.4B + Unrealized Gains $2.0B

Rate of Return

FYTD AS OF May 31, 2024

7.12%

8.81% over 5 years

APFC Governance Committee Advances Modernization Efforts

July 18, 2024

JUNEAU, AK — The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees Governance Committee convened today to advance ongoing efforts to modernize and enhance the Corporation’s governance practices. The committee reviewed recommendations to communications and governance policies, including updates to investment advisory, audit, cybersecurity, and communications protocols.

The recommendations aim to align APFC’s governance framework with industry best practices and support the organization’s mission of prudent and sustainable management of the Alaska Permanent Fund.

“This is a critical step in our continued commitment to strong governance,” said Ellie Rubenstein, Chair of the Governance Committee. “These recommendations reflect a comprehensive review and are designed to ensure APFC remains at the forefront of best practices in investment management and oversight.”

A summary of proposed amendments will be presented to the full Board of Trustees for consideration during the upcoming meetings scheduled for July 24 in Fairbanks, as well as during the annual meeting on September 25-26 in Anchorage. Proposed recommendations include the following:

  • Update the Charter of the Investment Advisory Group
  • Revise Audit Committee Processes and Purview
  • Establish a Communications Committee or Process for Enhanced Alignment
  • Utilize External Resources to Adopt Best Practices

APFC CEO Deven Mitchell emphasized the importance of these forward-looking reforms. “Good governance is foundational to our work at APFC,” said Mitchell. “These proposed updates are part of our approach to ensuring transparency, accountability, and long-term success in serving the interests of all Alaskans.”

Read the full press release here.


Fund News


Fund News

APFC Governance Committee Advances Modernization Efforts July 18, 2024

JUNEAU, AK — The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees Governance Committee convened today to advance ongoing efforts to modernize and enhance the Corporation’s governance practices. The committee reviewed recommendations to communications and governance policies, including updates to investment advisory, audit, cybersecurity, and communications protocols.

The recommendations aim to align APFC’s governance framework with industry best practices and support the organization’s mission of prudent and sustainable management of the Alaska Permanent Fund.

“This is a critical step in our continued commitment to strong governance,” said Ellie Rubenstein, Chair of the Governance Committee. “These recommendations reflect a comprehensive review and are designed to ensure APFC remains at the forefront of best practices in investment management and oversight.”

A summary of proposed amendments will be presented to the full Board of Trustees for consideration during the upcoming meetings scheduled for July 24 in Fairbanks, as well as during the annual meeting on September 25-26 in Anchorage. Proposed recommendations include the following:

  • Update the Charter of the Investment Advisory Group
  • Revise Audit Committee Processes and Purview
  • Establish a Communications Committee or Process for Enhanced Alignment
  • Utilize External Resources to Adopt Best Practices

APFC CEO Deven Mitchell emphasized the importance of these forward-looking reforms. “Good governance is foundational to our work at APFC,” said Mitchell. “These proposed updates are part of our approach to ensuring transparency, accountability, and long-term success in serving the interests of all Alaskans.”

Read the full press release here.


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 $80.2 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...

  • Find out what made FY23 an interesting year in the APFC Annual Report: Trusted for Generations. Learn more about APFC’s strategies, investments and staff in the latest Annual Report.

    Read the Report...

GLOBAL CONFERENCE

Deven Mitchell APFC’s Executive Director shares his thoughts on the opportunities and challenges of a resource-based endowment.

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