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 December 31, 2020

$71,748,100,000

Principal Total $57.8 Billion | ERA Total  $14.0 Billion

Principal

$57.8 B

Contributions: $46.7 B | Unrealized Gains: $11.1 B

ERA Uncommitted

$8.2 B

+ Committed FY22 POMV $3.1 B + Unrealized Gains $2.7 B = Total of $14.0 B

Value Added

AS OF June 30, 2020

$3.1 B

VS PASSIVE BENCHMARK OVER 5 Years

Rate of Return

FYTD AS OF June 30, 2020

FY 20 2.01%

6.44% OVER 5 YEARS

Notice of APFC Regulation Changes January 12, 2021

APFC’s investment authority under AS 37.13.120 (a) Investment Responsibilities requires the Board of Trustees to adopt regulations “specifically designating the types of income-producing investments eligible for investment of fund assets” in accordance with the prudent investor rule.

AS 37.13.206 Regulations guides this process, including the public notice requirements.

APFC is proposing to amend the regulation regarding the investment of permanent fund assets into real estate (15 AAC 137.450) to allow our investors to consider a broader array of real estate investment opportunities and remain competitive in today’s market. The proposed it is designed to include all of the foreseeable, real estate investment opportunities that the APFC Real Estate Team believes are prudent to achieve the risk and return profile appropriate for this asset class.

This proposed regulation change will be included on the February 17-18 Board of Trustees’ meeting agenda.

202101_APFC public notice of proposed regulation changes

202101_DRAFT APFC REGULATION CHANGES 15 AAC 137.450


Fund News


Fund News

Notice of APFC Regulation Changes January 12, 2021

APFC’s investment authority under AS 37.13.120 (a) Investment Responsibilities requires the Board of Trustees to adopt regulations “specifically designating the types of income-producing investments eligible for investment of fund assets” in accordance with the prudent investor rule.

AS 37.13.206 Regulations guides this process, including the public notice requirements.

APFC is proposing to amend the regulation regarding the investment of permanent fund assets into real estate (15 AAC 137.450) to allow our investors to consider a broader array of real estate investment opportunities and remain competitive in today’s market. The proposed it is designed to include all of the foreseeable, real estate investment opportunities that the APFC Real Estate Team believes are prudent to achieve the risk and return profile appropriate for this asset class.

This proposed regulation change will be included on the February 17-18 Board of Trustees’ meeting agenda.

202101_APFC public notice of proposed regulation changes

202101_DRAFT APFC REGULATION CHANGES 15 AAC 137.450


  • 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 $65 billion. Want to know how we did it?

  • 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.

  • 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.

  • 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.

  • Learn about APFC’s strategies, investments and people in the 2020 Annual Report.

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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