Alaska Celebrates the Fund’s First 50 Years, Prepares for the Next 50 Years

In APFC Perspectives, News by Juliette Alldredge

Established by Alaskans for Alaskans
Fifty years ago, in 1976, Alaskan voters amended the state constitution to set aside a portion of the state’s revenues from oil and minerals to establish the Alaska Permanent Fund to benefit future generations of Alaskans.

“The generations who established and built the Permanent Fund prioritized the future of Alaska over their ability to take more for themselves. Fortunately for our state, they turned a time of short-term extraordinary wealth from nonrenewable resources into Alaska’s greatest renewable resource.  Fifty years later, it is our turn to lead to ensure that the Fund continues to serve Alaskans for generations to come.”

— Deven Mitchell, Executive Director & CEO
A portion of all oil and mineral revenues, along with special appropriations to grow the Fund and inflation proofing to maintain its purchasing power, are deposited into the Fund’s Principal. These contributions generate income that supports state services and the annual Permanent Fund Dividend (PFD), distributed directly to Alaska residents.
Annual withdrawals for state services and the PFD are governed by a Percent of Market Value (POMV) draw, calculated using a five-year rolling average of the Fund’s value. Set in statute at 5 percent, the POMV framework is designed to maintain and protect the Principal over time.

“As a Board, we are deeply honored to help steward a resource that now provides the majority of Alaska’s annual revenue. As we mark the 50th anniversary, I’m profoundly grateful for the collaboration across this state that has brought us to this milestone. Our responsibility is clear: to ensure the Fund remains strong and sustainable so it can serve generations long after us.”

— Jason Brune, Chair, Board of Trustees
The Board of Trustees also released an accompanying op-ed reflecting on the milestone, “Half a Century of the Permanent Fund: A Commitment to Generations of Alaskans.”

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Alaska Permanent Fund Corporation Holds Quarterly Board Meeting

In Uncategorized by Juliette Alldredge

The Board of Trustees of the Alaska Permanent Fund Corporation (APFC) convened its Quarterly Meeting on December 17, 2025, in Juneau and online. Key discussions included the Fund’s performance, investment strategy, and a Private Equity overview, with a focus on disciplined, long-term oversight.

“As 2025 concludes, we are proud to see the Alaska Permanent Fund continue to perform well for the benefit of all Alaskans,” said Board Chair Jason Brune. “The dedicated work of APFC staff, the analysis of our advisors, and the Board’s careful oversight helped make 2025 a strong year. As we look ahead to 2026 and the Fund’s 50th anniversary, we are excited to celebrate this historic milestone. The Fund was created through a vote approving a constitutional amendment, which underscores Alaskans’ intent to safeguard this resource for the benefit of generations to come.”

Click here to read the full press release.

Pictured are APFC Board members, staff, and partners wearing festive holiday sweaters at the quarterly meeting.

 

APFC Awarded Best Places to Work in Money Management

In Uncategorized by Juliette Alldredge

The Alaska Permanent Fund Corporation (APFC) was recognized in the 2025 Best Places to Work in Money Management awards announced today by Pensions & Investments.

APFC is proud to have received this honor for five consecutive years. Presented by Pensions & Investments, this is the 14th annual survey and recognition program dedicated to identifying the best employers in the money management industry.

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APFC Board of Trustees Quarterly Meeting December 17, 2025

In Uncategorized by Jennifer Thorsteinson

The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees will hold their Quarterly Meeting on December 17, 2025 in Juneau at the location identified in the agenda linked below. Agenda items include: Fund performance presentations, private and public markets overviews, Private Equity asset class presentation, 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.

December 17, 2025 APFC Board of Trustees Quarterly Meeting Agenda_v2

December 17, 2025 APFC Board of Trustees Quarterly Meeting Packet

Investing in the Next Generation

In Uncategorized by Juliette Alldredge

Alaskan Students Welcome to Apply for 2026 Internships

At the Alaska Permanent Fund Corporation (APFC), managing one of the largest sovereign wealth Funds in the country means thinking long-term about capital, risk, and people. Our internship program reflects the same commitment to Alaskan students, developing leaders to carry Alaska’s financial legacy forward.

Each summer, APFC welcomes undergraduate and graduate students into paid internships in investments and finance at our headquarters in Juneau. In addition, APFC has external partners that welcome interns across the U.S. Interns will gain firsthand experience in the professional world of institutional investing and accounting while contributing to the stewardship of Alaska’s most important financial asset.

“Our internship program is designed to give Alaskan students meaningful early-career experience and a strong foundation for their future success,” said Executive Director & CEO Deven Mitchell.

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APFC Welcomes Ralph Samuels to the Board of Trustees

In Board of Trustees by Juliette Alldredge

The Alaska Permanent Fund Corporation (APFC) announces the appointment of Ralph Samuels to its Board of Trustees.

“It is an absolute pleasure to welcome Trustee Samuels to the Board,” said APFC Board Chair Jason Brune. “Ralph’s dedication to Alaska, shaped by years of public service in the Legislature and seasoned by success in the private sector, will be an invaluable asset to our work. We look forward to the leadership, insight, and commitment Trustee Samuels will bring to the Board.”

Samuels was selected by Governor Mike Dunleavy to fill one of four public seats on the Board.

“Ralph Samuels is a lifelong Alaskan with an innate understanding of our state’s business and political landscape,” said Governor Mike Dunleavy. “As a Trustee he will bring that experience and insight to managing Alaska’s sovereign wealth fund not only for today, but for future generations of Alaskans.”

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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.”  

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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