“For 40 years, Alaska has been putting its oil money into a giant savings account. But now the oil — and the money — are drying up. …”
Juneau – The Alaska Permanent Fund’s (Fund) investments gained 12.57% in fiscal year 2017 (FY17) and the Fund ended June 30, 2017 with a total record value of $59.8 billion, comprised of $47.0 billion in the Principal of the Fund and $12.8 billion in the Earnings Reserve Account. Following the FY17 year-end close, the Total Fund value has continued climbing to record highs and is now well over $60 billion.
Reflecting on the recent noteworthy performance of the Fund and 40 years of successful Alaskan stewardship, the Board of Trustees Chair Bill Moran offered that this “high mark is a testament to the Alaskans who had the foresight to create the Fund, the leaders of yesterday and today who have maintained the integrity of the Fund and the dedicated professionals of the Alaska Permanent Fund Corporation who have attentively invested the Fund.”
APFC’s CEO Angela Rodell stated that “the success of the Fund has been built upon decades of investment experience and the firm commitment of the Board of Trustees to establish sound investment, governance and transparency practices. Due to these efforts, not only has the Fund reached an all-time high value it has also achieved world-wide recognition as a model for converting a non-renewable natural resource into a renewable financial resource.”
“The Alaska Permanent Fund Corp. will be renovating its headquarters in Juneau. Its goal is to modernize its offices and help its workers communicate more easily. It’s budgeted to cost $4 million. Supporters say it may be a small price for the state to pay if it makes a difference in growing the $60.7 billion fund. …”
“Every morning, I pass by words engraved physically on our wall but, more importantly, philosophically at our core. “Maximize the value of Alaska’s Permanent Fund through prudent long-term investment and protection of principal to produce income to benefit all generations of Alaskans.” These words embody the mission that inspires my 41 colleagues to do what we do best: partner with the most experienced and talented investors across asset classes, acquire the highest-quality assets and support visionaries who lead the world’s most promising companies. …”
Juneau – The Alaska Permanent Fund (Fund) has reached an unaudited value of over $60 billion, a new milestone of achievement and noteworthy result based on 40 years of successful Alaskan stewardship.
“… They thought they would get a couple million dollars from the auction — maybe 10 — but those lease sales made $900 million — nine times the state’s entire budget for that year. Alaska’s lawmakers had a choice: save it or spend it. What did they do? …”
With an Operating Budget for Fiscal Year 2018 passed by the Alaska State Legislature, the Alaska Permanent Fund Corporation (APFC) will remain fully staffed and working on behalf of Alaska. Chief Executive Officer Angela Rodell notes she is pleased that APFC will not need to activate its business continuity plan and that APFC’s staff can remain focused on the active management of the Alaska Permanent Fund.
Chief Executive Officer Angela Rodell announced today that the Alaska Permanent Fund Corporation (APFC) is taking steps to ensure that the Alaska Permanent Fund and money managed on behalf of the Alaska Mental Health Trust Authority are prudently managed in the event of a government shutdown.
The Alaska Permanent Fund Corporation’s Board of Trustees held their quarterly meeting in Juneau, Alaska to review the investment performance of the Alaska Permanent Fund (Fund) and evaluate practices pertaining to the management of the Fund. CEO Angela Rodell notes, she is “exceptionally proud of the team at APFC, and it is rewarding to see that staff’s stewardship of the Fund and commitment to being world-class investors is being recognized on a global stage.”
The Alaska Permanent Fund’s (Fund) total value as of March 31, 2017 (unaudited) is $57.8 billion, comprised of $46.1 billion in Principal and $11.7 billion in the Earnings Reserve. The Fund’s investment return for the fiscal year to date (FYTD) is up 8.96% based on unaudited performance results. Angela Rodell, CEO of the Alaska Permanent Fund Corporation, stated that “the solid performance results for the first three quarters of FY17 are encouraging and affirm the dedication of the APFC staff to meet or exceed our performance benchmarks. Over the past 5 years, the total Fund Performance has lead all three benchmark objectives and APFC will continue to strive to maximize returns for Alaskans.”