APFC Board of Trustees Risk Workshop

In Uncategorized by Jennifer Thorsteinson

The Alaska Permanent Fund Corporation (APFC) will hold a Board of Trustees Risk Workshop on November 5, 2020 telephonically. The public is invited to attend this meeting by webinar. Please see the Packet (linked below) for information.
The agenda item is informational only, no board action will take place.

Risk Workshop Packet_BOT_2020.11.05

How Does APFC Make Money for Alaska?

In Uncategorized by MSI

Stocks and bonds are just two of the ways we invest the Permanent Fund to make money for Alaska and grow the Fund. Watch this video to learn more about what we invest in – and don’t be surprised if it’s somewhere you’ve been.

APFC’s Board of Trustees Annual Meeting 2020

In Uncategorized by Paulyn

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

What is the Alaska Permanent Fund?

In Uncategorized by MSI

The Permanent Fund can be tricky to understand. As a corporation dedicated to managing this fund, we put together a video to help you understand Alaska’s greatest financial asset – and where it came from. Check back later because we’re putting together videos on a series of topics to help you understand the Fund, its role in Alaska and more!

2020 Annual Report is available

In Uncategorized by MSI

Fiscal year 2020 started out very promising but by midyear the Fund’s investment staff decided to shift to a more conservative position with an overweight in asset allocation to bonds and cash. This proved to be a very prescient move when global markets crashed in March due to the COVID-19 pandemic. Through prudent management and opportunistic positioning, the Fund recovered most of its losses and ended the fiscal year with a positive return of just over 2%, a remarkable feat that proves there is strength in diversity of assets, investments and our team. Learn more about APFC’s strategies, investments and people in the 2020 Annual Report.

APFC Board of Trustees Annual Meeting

In Uncategorized by Jennifer Thorsteinson

The Alaska Permanent Fund Corporation (APFC) will hold its Annual Meeting of the Board of Trustees on September 23-24, 2020 telephonically via WebEx. The public is invited to attend the meeting by webinar; there will be opportunity for public comment and participation on September 23. Please indicate your interest in providing public testimony when registering with WebEx. Links are provided in the Agenda that can be found below. If you are unable to join via webinar please contact Jennifer Thorsteinson ([email protected]) at (907) 796-1519 at least two days prior to the meeting.
APFC Board of Trustees Annual Meeting Agenda
September 23-24, 2020 Annual Meeting Packet

July 31 Financial Statements

In Uncategorized by Paulyn

Start of FY21 financial statements for the Alaska Permanent Fund are now available.

As of July 31, 2020, the Alaska Permanent Fund has an unaudited total value of $63.6 billion.

  • The Principal value is $53.3 billion; which includes
    • $46.6 billion in constitutionally protected deposits
    • $6.7 billion in unrealized gains
  • The value of the Earnings Reserve Account (ERA) is $10.3 billion; which includes
    • $5.5 billion of unspent realized earnings
    • $3.1 billion commitment for the FY22 POMV draw
    • $1.7 billion in unrealized gains

The July 31, 2020 financial statements include the revised June 30, 2020 values for fiscal year-end 2020.

2020JULY31 APFC Financial Statements

2020JULY31 APFC History and Projections

 

June 30 Financial Statements Revision

In Uncategorized by Paulyn

The  June 30, 2020 financial statements for the Alaska Permanent Fund have been revised.  The revision reflects an increase in the Fund’s unrealized gains for private market holdings based upon the most recent valuation information available.

Based on the revised, June 30, 2020 financial statements at the fiscal year-end 2020, the Alaska Permanent Fund had a total value of $65.3 billion.

The Principal value is $52.4 billion; which includes $46.6 billion in constitutionally protected deposits, and $5.8 billion in unrealized gains.

The value of the Earnings Reserve Account (ERA) is $12.9 billion; which includes $8.4 billion of unspent realized earnings, $1.4 billion in unrealized gains, and $3.1 billion of committed realized earnings for the FY21 percent of market value (POMV) distribution to the general fund.

The July 31, 2020 financial statements will include the revised June 30, 2020 values for fiscal year-end 2020, as well as the values for the first month of the fiscal year 2021.

APFC Audit Committee Meeting, Governance Committee Meeting, and Budget Work Session

In Uncategorized by Jennifer Thorsteinson

The Alaska Permanent Fund Corporation (APFC) Board of Trustees will hold its Audit Committee meeting, Governance Committee meeting and Budget Work Session on September 2-3, 2020 telephonically via WebEx. The public is invited to attend the meeting by webinar; there will be opportunity for public comment and participation. Please indicate your interest in providing public testimony when registering with WebEx (links in the attachments below). For public testimony via phone, please contact Jennifer Thorsteinson ([email protected]) at least one business day prior to the meeting for more details.
Audit Committee Meeting Packet
Governance Committee Meeting Packet
Budget Work Session Packet

APFC Welcomes Trustee Ethan Schutt to the Board of Trustees

In Uncategorized by Paulyn

Trustee Schutt brings a wealth of knowledge, service to Alaska, and investment experience to APFC’s Board.  Mr. Schutt is a life-long Alaskan who currently serves as the chief executive officer of the Alaska Native Resource Development, LLC, a subsidiary of the Alaska Native Tribal Health Consortium. A Stanford-educated attorney, Schutt previously spent a decade managing Cook Inlet Region, Inc.’s (CIRI) energy investment portfolio, which spanned 1.5 million acres of Alaska Native corporation land.

Trustee Schutt replaces outgoing Trustee Marty Rutherford whose four-year term ended earlier this year.

APFC thanks outgoing Trustee Marty Rutherford her service to the Fund and the Corporation, as well as her many contributions to the State of Alaska.

The Board of Trustees will be holding their annual meeting on September 23-24, 2020 via webinar.  Details will be made available on our website:  https://apfc.org/the-board-of-trustees/board-of-trustees-meetings/.