Quarterly Meeting of the Board of Trustees in Anchorage on May 23-24, 2018

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The Alaska Permanent Fund Corporation will hold its Quarterly Meeting of the Board of Trustees on May 23-24, 2018 . The public is invited to attend this meeting in-person or via teleconference,  and there will be an opportunity for public comment and participation on Wednesday, May 23rd at 8:30 a.m. when the meeting commences.

The meeting agenda is available under Board of Trustee Meetings and the packet will be posted a day in advance of the meeting.  Agenda items include: a panel on investing with environmental, social and governance (ESG) factors, comprehensive overview of asset class performance by Callan and APFC portfolio managers, consideration of the updated Investment Policy, and a presentation by Callan on the current capital market assumptions.

APFC Recognizes the Legislature’s Commitment to Structured Draws from the Fund

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The Alaska Permanent Fund Corporation applauds the passage of SB 26. The Board of Trustees with Resolution 18-01 had implored the Legislature to take the difficult action of setting up a rules-based framework governing withdrawals from the Alaska Permanent Fund. SB 26 fulfills that obligation.

Angela Rodell, Chief Executive Officer, affirms that “SB 26 is an important milestone for the Permanent Fund and APFC.  It gives us the target we have been asking for in order to craft our investment strategy and will ensure the Fund is a resource Alaskans can rely on now and in the future.”

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Alaska Permanent Fund Returns 8.86% thru the third quarter of FY18

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The Alaska Permanent Fund’s (Fund) investments gained 8.86% thru the third quarter of fiscal year 2018 (FY18) and the Fund ended March 31, 2018 with assets under management totaling $64.6 billion. The value of the Fund is up $4.8 billion since the start of FY18 despite increased market volatility. …

The value add that APFC staff has contributed through the active management of the Fund is a 1.65% return above the passive index benchmark thus far in FY18, which is equal to just over $986 million in Fund value. …

Download the release at 201805_APFC FY18 Q3 Performance.

Privately Speaking – Alaska rocks, Private Equity International Issue 164, April 2018

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“The $65bn Alaska Permanent Fund is creating a supercharged private equity portfolio, writes Alex Lynn” …

“…This is the ultimate model of having a small team of very thoughtful people leveraging their GP network constructively to generate some really interesting dealflow, executing on it and delivering good returns.  They use their resources where they see the opportunity and just get things done – not many people execute and execute well. …”

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Board of Trustees Adopts Resolution in Support of a Rules Based Framework

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Juneau – The Alaska Permanent Fund Corporation’s Board of Trustees adopted a resolution during a special meeting on March 15, 2018 solidifying their support of a rules based framework governing deposits into and withdrawals from the Alaska Permanent Fund.

In adopting resolution 18-01, the Board of Trustees acknowledges and supports the efforts of Alaskan stakeholders to establish a rules-based framework designed to ensure the future sustainability of the Fund and meet the needs of Alaskans both today and in the future.

Resolution 18-01_Rules Based System for Fund Transfers

Alaska Permanent Fund Selected as LP Investor of the Year

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Juneau – The Alaska Permanent Fund Corporation (APFC) is pleased to announce that the Alaska Permanent Fund has been selected as the North American Private Equity Institutional Limited Partner (LP) Investor of the Year for 2017 by PEI magazine.  The Alaska Permanent Fund is among three global winners and shares this honor with two fellow sovereign wealth funds – the China Investment Corporation in Asia and APG Asset Management in the Netherlands. …

… Angela Rodell, Chief Executive Officer, notes that this global recognition “highlights the outstanding contributions of APFC’s staff in providing exceptional investment returns for Alaska and building strong, trusted relationships.  The Private Equity program is a sophisticated, global investment strategy that contributes both exceptional returns and prudent diversification. It’s evidence that we can build world class organizations here in Alaska.”

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APFC’s Board of Trustees Affirm Diversified Approach to Investing

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The Board of Trustees held its quarterly meeting in Juneau, Alaska on February 21-22, 2018.  At that meeting, the Board reviewed the mid fiscal year 2018 (FY18) investment performance of the Alaska Permanent Fund (Fund), assessed the position of the portfolio given recent market volatility, discussed establishing a Real Assets allocation, and reviewed the eCIO program. …

… While the Fund saw tremendous growth in value throughout the first two quarters of this fiscal year and reached an all-time high in January, it was countered by volatile market conditions in February.  Despite the recent market volatility, value of assets under management is up more than $550 million since the December 31, 2017 and up by approximately $4.8 billion since the beginning of the fiscal year. Chair Moran noted that “the recent market conditions affirm the importance of APFC’s diversified approach to investing. This structure is designed to meet our long-term return objectives without undertaking excessive short-term market risk in the process.” …

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APFC Board of Trustees Quarterly Meeting on February 21-22 in Juneau

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The Alaska Permanent Fund Corporation (APFC) will hold its Quarterly Meeting of the Board of Trustees on February 21-22, 2018 in Juneau, AK. The public is invited to attend this meeting in-person or by teleconference; there will be an opportunity for public comment and participation.  Agenda items include: A risk and asset allocation overview, asset class updates, a performance report from Callan Associates, an eCIO review, as well as a panel discussion on positioning the portfolio in volatile markets.

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Alaska Permanent Fund Returns 8.45% for the first half of FY18

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The Alaska Permanent Fund’s (Fund) investments gained 8.45% in the first half of fiscal year 2018 (FY18) and the Fund ended December 31, 2017 with assets under management totaling $64.0 billion, comprised of $48.7 billion in the Principal of the Fund and $15.3 billion in the Earnings Reserve Account. As we enter the second half of the fiscal year, the Fund has reached daily market values of more than $66 billion and is experiencing increased market volatility.

APFC maintains a well-diversified portfolio in both public and private markets across seven asset classes. In reviewing recent performance results, Angela Rodell, CEO of the Alaska Permanent Fund Corporation, noted that she was “pleased to see the quality and diversity of the portfolio’s investment returns across all asset classes.  Double digit performance returns have been achieved not only in public equities, but in APFC’s private equity and infrastructure holdings as well.”

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It’s time to adopt POMV structure for Permanent Fund – Opinion – Angela Rodell, CEO

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“Since 2003 the Board of Trustees has endorsed using a percent of market value, or POMV, methodology for determining how much should be drawn from the Alaska Permanent Fund. A POMV establishes a limit to the amount that can be drawn from the Fund and is based on its average annual market value over five years.  … We have had a constitutional and statutory contract with Alaskans in place since the Fund’s creation more than 40 years ago, an agreement as to how deposits and withdrawals are made. As the Alaska Permanent Fund is central to policy decisions pertaining to the composition of state funding, it’s time for Alaskans to establish a new contract to support the evolution and continued health of the Fund by adopting a POMV structure. …”

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