Alaska Permanent Fund Returns -3.19% for the first half of FY19

In Uncategorized by Paulyn

The Alaska Permanent Fund’s (Fund) investments fell 3.19% in value in the first half of fiscal year 2019 (FY19) and the Fund ended December 31, 2018 with net assets under management totaling $60.4 billion, comprised of $43.7 billion in the Principal of the Fund and $16.6 billion in the Earnings Reserve Account.  Despite a significant decline in US and international stock markets, the Alaska Permanent Fund mitigated these public market dips due to its diversified approach to investing.

Angela Rodell, Chief Executive Officer, notes that “within a long term investment horizon, it is anticipated that the global markets will go up and down – it is part of the buying – selling – trading process of the portfolio’s holdings. And while we invest with the intent that they go up more than they go down, there are going to be dips.  Our team is poised to take advantage of those market dips.”

201902_APFC FY19 Q2 Performance

Alaska Permanent Fund FYTD19 Second Quarter Financials

In Uncategorized by Paulyn

The Alaska Permanent Fund (Fund) ended the first half of fiscal year 19 (FY19) on December 31, 2018 with total net assets under management valued at $60.4 billion (unaudited).

The Fund is comprised of two accounts, the Principal and the ERA, that are invested using the same asset allocation with pro-rata shares attributed to each account. As of December 31, 2018, the value of the Principal totals $43.8 billion, comprised of $40.4 billion in constitutionally protected deposits and $3.4 billion in unrealized gains. For the same time period, the value of the ERA totals $16.6 billion, comprised of $15.3 billion in realized earnings and $1.3 billion in unrealized gains.

Performance results for the first half of FY19 are forthcoming and will be accompanied by a news release once they are final.

 

RFI issued in Connection with Alaska In-State Private Markets Manager Search

In Uncategorized by Paulyn

In response to Resolution 18-03: Supporting An In-State Emerging Manager Program, APFC has issued a Request for Information (RFI) to inform the hiring of an investment management firm to provide services in support of an In-State private markets-focused investment mandate.

Resolution 18-03, approved at APFC’s Annual Meeting on September 27, 2018, directs the implementation of an In-State Emerging Manager program with an initial allocation up to $200 million within the Private Equity and Special Opportunities Asset Allocation. The goal of the Emerging Manager Program is to seed new private equity or venture capital fund managers in Alaska.  Because the vetting of first time fund managers is a time and resource intensive task, the resolution directs APFC Staff to work with an external manager to oversee the program.

Links to the RFI and the Resolution 18-03 are noted below:

AK In-State Private Markets Manger RFI

Resolution 18-03 In-State Emerging Manager Program

The APFC Board of Trustees Review Fund Performance and Risk Components

In Uncategorized by Paulyn

The Board of Trustees held its quarterly meeting in Juneau, Alaska on December 11-12, 2018 to review the performance of the Fund through September 30, 2018, consider the components of a comprehensive risk program, and learn about the 2019 market forecast from the Alaska Permanent Fund Corporation’s (APFC) investment partners.

The full news release is available at: 20181212_APFC BOT Quarterly Meeting

APFC Quarterly Board of Trustees Meeting

In Uncategorized by Danielle Graham

The Alaska Permanent Fund Corporation (APFC) will hold its Quarterly Meeting of the Board of Trustees on December 11-12, 2018 in Juneau, AK. The public is invited to attend this meeting in-person or by webinar; there will be an opportunity for public comment and participation.  Agenda items include: risk overview, review of the compensation committee, asset class updates, a performance report from Callan Associates, and a macro overview and 2019 outlook panel.

01_Agenda

APFC Quarterly December 11-12 BOT Packet

Alaska Permanent Fund Returns 2.13% for the first quarter of FY19

In Uncategorized by Paulyn

The Alaska Permanent Fund’s (Fund) investments gained 2.13% during the first quarter of fiscal year 2019 (FY19) and the Fund ended September 30, 2018 with total assets under management valued at $63.9 billion (unaudited). The Fund is comprised of two accounts, the Principal and the Earnings Reserve Account (ERA), that are invested using the same asset allocation with pro-rata shares attributed to each account. As of September 30, 2018, the value of the Principal is $46.9 billion and the value of the ERA is $17.0 billion. The 5.25% POMV (percent of market value) draw of $2.7 billion in FY19 to pay for government services and the 2018 fall dividend has been partially distributed with a transfer of $1.4 billion to the general fund. The remainder of the draw equaling $1.3 billion remains invested in the Fund and recorded as a liability for transfer through-out the remainder of the fiscal year.

Angela Rodell, APFC’s CEO, notes that “diversification and meaningful allocations to private market assets continue to benefit the Fund.  As the market becomes increasingly volatile, it is more important than ever to remember we invest with a 10, 25, 50 year or longer time horizon.  Our APFC team continues to be focused on building real financial wealth and resources for the State of Alaska.” …

Performance overviews and updates for each asset class will be presented to APFC’s Board of Trustees during their quarterly meeting on December 11-12, 2018 in Juneau.  Additional detailed information can be found at apfc.org and the following link for the Alaska Permanent Fund’s financial statements and investment performance.

Full press release for more information: 2018NOV02_APFC FY19 Q1