APFC Keeps Steady Keel During Turbulent Year

In Uncategorized by Paulyn

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.

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