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 …
KTOO Capitol Views 2023
Alaska Legislative Digest’s Tim Bradner interviews Deven Mitchell, APFC Executive Director.
A Historic Alaskan Moment
Alaskans came together in November of 1976 to approve the establishment of the Alaska Permanent Fund through a constitutional amendment. 4 years later, it was decided how the Fund should ultimately be invested and managed. On April 8, 1980, Governor Hammond signed SB161, establishing the Alaska Permanent Fund Corporation. This bill provided the mandate to safeguard the Principal and prudently …
APFC’s Board of Trustees Regular Meeting Overview
Anchorage – The Board of Trustees held a regular meeting in Anchorage and via webinar on April 12, 2023, to hear updates on portfolio activity, further conversations on the Fund’s Asset Allocation and the in-state private equity investment program, review elements of the Public Equities portfolio, and consider the Corporation’s peer group definition for compensation.
Hedging against inflation with Global Rates
High inflation and rising interest rates have been making headline news for the past year. Inflation occurs for several reasons, but it doesn’t necessarily happen in every country to the same degree or at the same time. In 2022, while the US Federal Reserve and central banks worldwide began aggressively increasing interest rates to fight inflation, some countries saw more …
APFC Statement Regarding U.S. Technology Banking Sector
Last week, U.S. banking regulators closed Silicon Valley Bank, a bank that specialized in commercial banking for the technology sector. Over the weekend, federal entities took measures to ensure that the depositors of Silicon Valley Bank would be held harmless. At this point, a handful of additional banks are experiencing substantial distress or have also been closed by banking regulators. …
APFC’s Board of Trustees Q2 Meeting Overview
Juneau – The Board of Trustees held its quarterly meeting in Juneau and via webinar on February 15, 2023, to review the Alaska Permanent Fund’s second-quarter investment performance, discuss the upcoming annual asset allocation, consider in-state investments, and assess risk management metrics. Chair Ethan Schutt provides that “the Alaska Permanent Fund’s ongoing success relies on the Board’s and staff’s abilities …
FY23 Mid-Fiscal Year Review
Entrusted as stewards and fiduciaries of the Permanent Fund, APFC’s vision and diverse investment strategies complement the long-term investment horizon for the Fund. “I fully understand and appreciate the importance of protecting this vital resource for the benefit of both the current and future generations of Alaskans,” says APFC Executive Director Deven Mitchell. United by the shared values of integrity, …
APFC and the business of taking risks
“The fundamental premise of risk management is accepting that there are inherent uncertainties in the longer-term pursuit of making money,” says Sebastian Vadakumcherry, APFC’s Chief Risk and Compliance Officer. “Understanding and appreciating how much an investor could expect to lose can lead to better investment decisions.” Most investment institutions have a target return or benchmark goal that they are trying …
APFC welcomes UAF Rural Development students
APFC was pleased to have the opportunity to welcome a group of UAF Rural Development students, along with Professor Emeritus Mike Davis and Assistant Professors Laura Zimin and Tav Ammu.