APFC’s Board of Trustees Governance Committee Meeting

In Uncategorized by Paulyn

Anchorage – The Governance Committee of the APFC Board of Trustees met in Anchorage and via webinar on May 9, 2023, to consider the initial recommendations of a contracted third-party advisor’s review of APFC’s governance policies.

The purpose of the review by Funston Advisory Services is to ensure that the Board’s existing governance policies remain consistent with best governance practices for an endowment fund of similar size and purpose to the Alaska Permanent Fund (Fund).

The Funston Advisory Services Group identified and recommended practical improvements to the governance policies that guide how APFC conducts its business; sets direction and delegates authorities; approves key decisions; oversees the execution of its direction within the policy; and verifies the reliability of the information it receives and it reports to stakeholders.

The Governance Committee discussed the recommendations, including those related to the Executive Director charters, statutory needs to ensure confidentiality in the evaluation process, the importance of the strategic planning process. Additionally, the contributions of the Fund and global recognition of APFC’s investment ability were discussed along with the need to bolster stakeholder communications and outreach. Confidentiality related to underlying investment strategy was also highlighted to protect the ongoing integrity of investment decisions and partnerships.

Looking forward, the Trustees will continue to evaluate the recommendations and work together with staff to bring forth final prioritized recommendations. Additionally, the Governance Committee plans to discuss the Investment Advisory Group Charter and related scope of services during the next Quarterly Meeting on May 17-18, in Kenai-Soldotna.

Board of Trustees Meeting information can be found at https://apfc.org/the-board-of-trustees/board-of-trustees-meetings/.

Archived video recordings of all Board of Trustees meetings are on our website at https://apfc.org/bot-video-archive/.