Juneau – The Alaska Permanent Fund (Fund) ended the first quarter of fiscal year 19 (FY19) on September 30, 2018 with total assets under management valued at $63.9 billion (unaudited). The change in Fund balance from FY18 fiscal year end is attributed to a $1.3 billion gain in the value of investments and the transfer of assets from the Earnings Reserve Account (ERA) to the general fund based on the recently adopted percent of market value methodology (POMV).
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 September 30, 2018, the value of the Principal totals $46.9 billion, comprised of $40.3 billion in constitutionally protected deposits and $6.6 billion in unrealized gains. For the same time period, the value of the ERA totals $17.0 billion, comprised of $14.6 billion in realized earnings and $2.4 billion in unrealized gains.
The 5.25% POMV (percent of market value) draw of $2.7 billion in FY19 to support governmental services, including the payment of the permanent fund 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.
Performance results for the first quarter of FY19 are forthcoming and will be accompanied by a news release once they are final.