This October, I was provided the opportunity to serve as the executive director of the Alaska Permanent Fund Corp. As a lifelong Alaskan, leading APFC is my childhood dream come true. From meeting with Gov. Jay Hammond with my third-grade class in 1976, to receiving the benefits of the fund’s existence throughout my life, to now having the experience to manage the corporation is truly special.

To tell a little about myself, I was born in Cordova and raised in Yakutat and Juneau, where my wife Erin and I reside and raised our two sons. For several decades, I served as Alaska’s Debt Manager and executive director of the Alaska Municipal Bond Bank Authority.

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The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees will hold a Governance Committee Meeting and a regular Quarterly Meeting on the following dates:

December 5, 2022 – Governance Committee Meeting – 9:00-11:00 a.m. – The public is invited to attend this meeting via Webinar (information listed in the agenda below), or telephonically.

December 7-8, 2022 – Quarterly Meeting – (times vary, see agenda) – The public is invited to attend this meeting in person, via Webinar (information listed in the agenda below), or telephonically.

Please see the agendas for more details.

12.05.22 Governance Committee Agenda
12.05.22 Governance Committee Meeting Packet
12.7-8.22 BOT Quarterly Meeting Agenda
12.7-8.22 Quarterly Board of Trustees Meeting Packet

APFC welcomes Adam Crum, Alaska Department of Revenue Commissioner, to the Board of Trustees.

Trustee Crum is a lifelong Alaskan with significant public and private sector experience in strategic management, organizational development, and executive consulting. He brings to the APFC Board a proven commitment to community, dedication to public service and respected leadership abilities.

In his role as a Trustee and fiduciary of the Alaska Permanent Fund, Trustee Crum says he is, “looking forward to working with an active Board of Trustees to continue growing both the value and reputation of the Permanent Fund.”

The APFC Board of Trustees is composed of six governor-appointed members. Per Alaska statute, two Trustees must be heads of principal departments of state government, one of whom shall be the Commissioner of Revenue. Four public members fill the remaining Trustee seats serving staggered, four-year terms.

Get to know our Trustees | https://apfc.org/know-your-trustees/

APFC is pleased to welcome Deven Mitchell as Executive Director (ED). Together with APFC’s Board of Trustees, leadership and staff, Deven will work to ensure that the Corporation achieves its mission of prudently investing and managing the assets of the Alaska Permanent Fund.

“Knowing the importance of the Permanent Fund to all Alaskans, I’m honored to have this opportunity to lead the Corporation,” noted Executive Director Mitchell. “I look forward to working with the Board and the professionals at APFC as we strive to achieve our goals and meet the expectations of our fellow Alaskans.”

From his 30-year career in public service to the State of Alaska, Deven understands the importance of the Permanent Fund and the Corporation’s mandates to protect and maintain the Principal, generate returns and provide a sustainable source of revenue to the State for the benefit of all generations of Alaskans.

Juneau – The Alaska Permanent Fund Corporation Board of Trustees selected Deven Mitchell as Executive Director to work with the Board in setting the strategic vision and direction of the Corporation, fulfilling our corporate mandate to manage and invest the assets of the Permanent Fund and other funds designated by law.

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The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees will hold a Special Meeting on October 3, 2022 to conduct public interviews of the final three candidates for the position of Executive Director of the APFC. This meeting is open to the public, and there will be an opportunity for public comment.

The public is invited to attend this meeting in person, via Webinar (information listed in the agenda below), or telephonically.

We are experiencing technical difficulties, please use call-in information to access the meeting live.

Call in Information: 1-844-740-1264
Access Code: 2463 011 0408
Webinar password: 2732268

10.3.22 APFC Board of Trustees Special Meeting Packet

10.3.22 APFC Board of Trustees Special Meeting Agenda

Anchorage – The Board of Trustees met for their Annual Meeting this week to review the Alaska Permanent Fund’s investment performance for fiscal year 2022 (FY22) and hear strategic insights, including current market perspectives from the Investment Advisory Group, APFC staff and external investment partners.

Chair Richards remarked that, “The past year has been challenging, and despite it all, the Fund had excellent performance returns amidst volatile markets. The Corporation remains strong and staff are committed to advancing our vision. The Board and staff look forward to continuing to excel in our investment management role.”

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The Alaska Permanent Fund Corporation is viewed through many lenses – an investor, an accountant, a manager, a leader, a steward, a student, an Alaskan – each bringing a unique perspective on the value and potential of the Alaska Permanent Fund, a world-class financial resource.

At APFC, our passion for investing, decades of financial experience, and steadfast commitment to our fellow Alaskans all contribute to protecting the Alaska Permanent Fund. Amidst the recent inflationary pressures and economic volatility affecting global markets, prudent management remains, as always, an essential component of the Corporation’s work. Entrusted as stewards and fiduciaries of the Fund, APFC’s vision and diverse investment strategies complement the long-term investment horizon, ensuring consistent risk-adjusted returns over time. This is the work done every day by APFC’s Board and Staff as we strive to safeguard and wisely invest the Fund for the benefit of Alaskans today and for generations to come.

As the Alaska Permanent Fund Corporation’s Board gathers in Anchorage this week for the annual meeting, the Trustees would like to update Alaskans on the status of the Alaska Permanent Fund, the outstanding job our staff has done in these turbulent times, and our search for a new executive director.

FY2022 was a challenging year for all investors. Persistent market volatility and some of the highest levels of inflation the Fund has ever encountered reinforced the importance of the long-term investment perspective of the portfolio. Our primary mission continues to be ensuring that the assets of the Fund are safeguarded and well-positioned to maximize risk-adjusted returns over a long horizon.

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We invite interested Alaskans to listen to our Annual Meeting on Sept. 21-22 to get an informed update on the Fund’s performance, the executive director search, and other topics of interest. Directions on how to watch the meeting are posted at https://apfc.org/board-of-trustees/board-of-trustees-meetings/.

As Trustees, we recognize our obligation to Alaskan stakeholders and global partners in setting the standard for fiduciary duty, ethical conduct, accountability, and integrity. We have strong governance measures to document our commitment to managing the Fund on behalf of generations of Alaskans, including a code of conduct and the requirement for annual fiduciary training. Public trust requires an ongoing commitment to consistent, capable leadership. We honor our commitment to Alaskans and the Alaska Permanent Fund.

2022_09  Full Commentary By Chair Craig Richards, APFC Board of Trustees

The Alaska Permanent Fund Corporation (APFC) Board of Trustees will hold their Annual Meeting on September 21-22, 2022 in Anchorage, AK. The public is invited to attend this meeting in person, or via webinar (location and links are in the agenda linked below) and there will be an opportunity for public comment and participation at the beginning of the meeting on September 21.

9.21-22.22 APFC Board of Trustees Annual Meeting Agenda

9.21-22.22 APFC Board of Trustees Annual Meeting Packet