APFC Holds Annual Meeting of the Board of Trustees

In Board of Trustees, News by Juliette Alldredge

The Board of Trustees of the Alaska Permanent Fund Corporation (APFC) convened its Annual Meeting on October 1–2, 2025, in Anchorage and via Teams webinar. Trustees reviewed the Fund’s performance, asset allocation, and the Public Equities asset class. In keeping with its annual governance responsibilities, the Board elected corporate officers. 

“The Alaska Permanent Fund continues to perform well, delivering strong results that benefit every Alaskan,” said Board Chair Jason Brune. “The Fund has become a cornerstone of our state’s finances, and its success reflects the disciplined oversight of the Board, insights of trusted advisors, and the dedicated work of APFC staff. As Trustees, we remain committed to our mission of safeguarding and growing this resource so it can continue to provide stability and opportunity for generations to come.”  

Click here to read the full press release.

From Left to Right: Ethan Schutt, Craig Richards, Board Chair Jason Brune, Ryan Anderson, Janelle Earls, and John Binkley.

49 Forward for Generations of Alaskans

In Uncategorized by Juliette Alldredge

Alongside the release of the 2025 Alaska Permanent Fund Corporation Annual Report “49 Forward,” CEO & Executive Director Mitchell wrote an opinion piece titled, “49 Forward for Generations of Alaskans” on Alaska’s history, the Fund’s performance, and the path forward with a single-fund endowment.

“I was born about a decade after Alaska became the 49th state, and have shadowy memories of life before oil revenue poured in. The preparedness to take care of ourselves demonstrated by gravel and shovels in the back of trucks during the winter, the limited access to markets reflected in ordering clothes out of a 2-inch-thick JCPenney catalog once a year, or the reality of drinking powdered milk because that’s what was available, were not unique to my household.

The Alaska Permanent Fund embodies that generation’s pioneering, hardy spirit. Those Alaskans, who had far less than we do today, selflessly chose to transform a portion of our resource wealth into a renewable financial resource for future generations rather than spend it on themselves. That foresight and generational sacrifice have proven invaluable to our quality of life today. Out of respect for the past and with the vision of a vibrant future, the Alaska Permanent Fund Corporation (APFC) is committed to ensuring the Fund continues to be a source of strength, stability, and shared prosperity for every Alaskan. At this 49-year mark, APFC’s mandate remains clear: protect and grow the Alaska Permanent Fund for all
generations.”

Click here to read the whole piece, “49 Forward for Generations of Alaskans.”

 

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APFC Release the 2025 Annual Report

In News by Juliette Alldredge

The Alaska Permanent Fund Corporation (APFC) announced the release of its 2025 Annual Report, 49 Forward.

For 49 years, the Fund has transformed resource wealth into a legacy of stability, opportunity, and shared prosperity for every generation. As we look ahead to its 50th year, we celebrate Alaska’s vision, resilience, and enduring strength.

The Alaska Permanent Fund is unique as it is both a symbol and a mechanism of our shared responsibility. It was created 49 years ago to transform Alaska’s resource wealth into a renewable financial resource, and it has delivered on that promise for generations. As stewards of the Fund, we are dedicated to protecting its value with strong governance and discipline, ensuring it remains a source of enduring wealth.

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APFC Board of Trustees Annual Meeting October 1-2, 2025

In Uncategorized by Jennifer Thorsteinson

The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees will hold their Annual Meeting on October 1-2, 2025 in Anchorage at the location identified in the agenda linked below. Agenda items include: a review of portfolio performance, risk assessment, an asset class overview with Public Equities, Public & Private Market presentations, election of corporate officers, review of 2026 & 2027 Meeting calendars, and more.

The public is invited to attend this meeting in person, via Teams Webinar (see agenda), or telephonically. There will be an opportunity for public comment and participation as noted in the agenda. Written comments can be sent to Trustees anytime at boardpubliccomment@apfc.org.

October 1-2, 2025 APFC Board of Trustees Annual Meeting Agenda

October 1-2, 2025 APFC Board of Trustees Annual Meeting Packet

Inside the Principal & ERA: What Changes Each Fiscal Year

In Uncategorized by Juliette Alldredge

Principal & ERA: Yearly Shifts Explained

Understanding the Fund’s structure is crucial, particularly the difference between the portion categorized as Principal and the Earnings Reserve Account (ERA).

  • The start of each fiscal year brings a significant change in reported values, as the Percent of Market Value (POMV) transfer is moved out of the ERA to support state services and the dividend.
  • The State of Alaska relies on the annual Percent of Market Value Draw (POMV) from the earnings of the Alaska Permanent Fund to provide more than 50% of the state’s unrestricted general fund revenues.

What to Know: At a Glance

Monitoring the Fund’s values enhances transparency, supports rules-based actions, and strengthens public confidence in its management.

  • The ERA has a sufficient balance to provide for the FY27 POMV commitment for the current generation’s use of the Fund.
  • Inflation proofing of the Principal was not appropriated in FY25 and FY26, impacting the intergenerational benefits of the Fund.

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Upcoming Board of Trustees Meetings – September 4, 2025

In Uncategorized by Jennifer Thorsteinson

The Alaska Permanent Fund Corporation (APFC) will hold a Board of Trustees Ethics, Audit & Cybersecurity Committee Meeting and a Regular Meeting on September 4, 2025 virtually. The Ethics, Audit & Cybersecurity Committee Meeting will focus on the financial statements and external audit results for Fiscal Year 2025. The Regular Meeting will focus on approving the Annual Audit for FY25 and approving the FY27 Budget proposal.

The public is invited to attend these meetings virtually via Teams Webinar (registration information listed in the agenda linked below or at the Board Meetings page under the corresponding meeting date and location), or by phone. There will be an opportunity for public comment at both meetings (please see the agendas for exact times). Written comments can be sent to Trustees anytime at boardpubliccomment@apfc.org.

09.04.25 APFC Board of Trustees Ethics, Audit & Cybersecurity Committee Meeting Agenda
09.04.25 APFC Board of Trustees Ethics, Audit & Cybersecurity Committee Meeting Packet_revised 9.3.25
09.04.25 APFC Board of Trustees Regular Meeting Agenda
09.04.25 APFC Board of Trustees Regular Meeting Packet_revised 9.3.25

APFC Featured in a Bloomberg’s Podcast on “Lessons from the One Sovereign Wealth Fund in the U.S.”

In News by Juliette Alldredge

On Monday, August 18, 2025, APFC was featured on Bloomberg’s Odd Lots, a top-ranked investing podcast.

In the podcast, APFC CEO Deven Mitchell and CIO Marcus Frampton sat down with hosts Joe Weisenthal and Tracy Alloway to discuss the Alaska Permanent Fund’s origin, evolution, and the role it plays in the state’s fiscal future.

What sets the Alaska Permanent Fund apart from other institutional investors, and what can others learn from the largest sovereign wealth fund in the United States?

Topics included:

  • The Fund’s oil revenue roots and constitutional structure
  • How APFC navigates high expectations and market volatility
  • The importance of long-term investing and disciplined governance

Listen to the Odd Lots episode on Spotify, Apple Podcasts, or Youtube.

Subscribers may also access the episode on Bloomberg’s website.

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The Key to a Stronger Fund: Diversification

In APFC Perspectives by Juliette Alldredge

By Deven Mitchell, CEO & Executive Director, Alaska Permanent Fund Corporation

In the nearly 50 years since Alaskans overwhelmingly voted to create the Alaska Permanent Fund, it has become a globally recognized sovereign wealth fund and a household name for every Alaskan. It symbolizes the conservative nature and strength of character of our forebearers, who saved a portion of their generation’s money earned from Alaska’s natural resources to provide financial benefits for all generations to come. The Alaska Permanent Fund Corporation and our dedicated team are tasked with and committed to protecting and growing the Permanent Fund for the benefit of every Alaskan.

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The Value of Purpose-Driven Talent

In Uncategorized by Juliette Alldredge

In a recent Chief Investment Officer article, “How Asset Owners Are Attracting Talent—and Their Issues Doing So,” APFC CEO Deven Mitchell discusses what motivates top investment talent to join institutional allocators located beyond Wall Street or other major metro finance centers.

From meaningful missions to unique career acceleration, Mitchell highlights why organizations like APFC continue to attract professionals who value long-term impact and a deeper connection to place.

Read the full piece here: How Asset Owners Are Attracting Talent and Their Issues Doing So | Chief Investment Officer