The Board of Trustees reviewed the fiscal year 2020 (FY20) investment performance of the Alaska Permanent Fund (Fund), approved a budget proposal to bring forth for inclusion in the FY22 operating budget, considered an overview of risk as it relates to the portfolio, and accepted the Annual Audit presented by KPMG.
Angela Rodell, Chief Executive Officer, notes in reaction to presentations on the capital markets and the global outlook that “we learned this week that this period of great uncertainty is expected to continue for some time with global interest rates at historic lows and a world pandemic that continues to impact economic growth. Our ability to generate large returns will be much more challenging going forward, but we are pleased the actions taken by the Board this week will help keep the Fund on track to meet our obligations and responsibility to all Alaskans.”
Per APFC’s Bylaws, an election of corporate officers was held as part of the Annual Meeting protocols. Trustee Bill Moran was elected to Chair and Trustee Steve Rieger to Vice-Chair of the APFC Board. Assignments to the Governance and Audit Committees will be posted on our website at a later date.
Please be sure to view the preceding ‘Fund News Posts’ to download the 2020 Annual Report and view our new educational video asset “What is the Permanent Fund?”
Our Full News Release is available here: 20200924_APFC BOT Annual Meeting 2020