FINANCIAL AND

PERFORMANCE REPORTS

FINANCIAL STATEMENTS

APFC’s monthly financial statements show the assets, liabilities, and Fund balance of the Alaska Permanent Fund for the current month closing date and the previous fiscal year end, as well as details regarding the income and expenses of the Fund. The financial statements also include the Statutory Net Income Calculation which is defined in AS 37.13.140 and excludes unrealized gains and losses from net income, stipulating that only realized gains and losses are to be transferred to the Earnings Reserve Account.

Financial Statement

HISTORY AND PROJECTIONS

APFC’s history and projections summaries provide  10-year historical lookback and a 10-year projection of the Fund’s components.

History and Projections Report

MONTHLY PERFORMANCE REPORTS

APFC publishes a monthly performance report which includes market values and performance return information for the Total Fund and each of the Asset Classes. The monthly performance reports include return information for periods up to 5 years and provide relevant benchmark comparisons for the evaluation of total Fund and asset class performance. The figures in the monthly reports are unaudited. For audited results, please refer to APFC’s Annual Report.

Monthly Performance Report

BENCHMARKS AND VALUE ADDED

Strategic Performance Benchmarks are an integral part of our best in class portfolio management and allow for the evaluation of asset class performance in relation to passive and peer results.

The Board of Trustees has approved three reference benchmarks for total Fund comparisons. APFC’s monthly performance report provides an overview of the Fund’s performance against these benchmarks:


PASSIVE INDEX BENCHMARK — a blend of passive indices reflective of a traditional portfolio consisting of public equities, fixed income and real estate investments. Outperformance of the Total Fund versus this Passive Index Benchmark is representative of the value-added by APFC staff in generating higher returns through active asset allocation and portfolio management.

BLENDED PERFORMANCE BENCHMARK — a blend of indices reflective of the Board’s target asset allocation. Comparison of actual performance to this benchmark measures how effectively staff has implemented the Board’s plan for the Fund.

TOTAL FUND RETURN OBJECTIVE — The Board’s long-term investment goal for the Fund is to achieve an average real rate of return of five percent (CPI+5%) per year. It is recognized that there may be years, or a period of years, when the Fund does not achieve this goal followed by years when the goal is exceeded. Yet, over one or more business cycles, the Board seeks to achieve an average annual real rate of return of five percent (CPI+5%) at risk levels broadly consistent with large public and private funds.

Returns vs Benchmarks

as of June 30, 2017


ANNUAL REPORTS

Each year, APFC publishes an Annual Report as required under AS 37.13.170. The Annual Report includes audited financial statements and comprehensive information about the Fund’s performance within each of the asset classes. Annual Reports cover the fiscal year ended June 30, and are published by September 30.

Annual Report 2017