APFC Board of Trustees Special Meeting – April 8, 2022

In Uncategorized by Jennifer Thorsteinson

The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees will hold a Special Meeting on April 8, 2022, virtually for the purpose of meeting in Executive Session to receive legal advice regarding the Legislative Budget & Audit Independent Investigation.

The public is invited to attend the non-executive session portion of this meeting via Webinar (information listed above), or telephonically.

4.8.22 APFC Board of Trustees Special Meeting Agenda

Board of Trustees’ Response to Ongoing LB&A Investigation

In Uncategorized by Adam Kane

As Alaskans, we can all agree that the investment and management of the Alaska Permanent Fund must be held to the highest of standards – those of fiduciary duty, uncompromising integrity, political independence, and straightforward accountability. In accordance with these standards, the Alaska Permanent Fund Corporation, our Trustees and our Staff are fully committed to the long-term interests of the Alaska Permanent Fund and the public that we serve.

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APFC Requests Proposals from Executive Search Firms

In Uncategorized by Adam Kane

On Tuesday, March 22nd, APFC posted a Request for Proposal (RFP) as part of a competitive solicitation for proposals from executive search firms to assist the APFC Board of Trustees in recruiting and selecting a new Executive Director.

The Board of Trustees and a Recruitment Committee will rely on the procured firm to develop and execute the steps for conducting a thorough executive search and recruitment process. As an industry expert, the awarded offeror will work with APFC in establishing a timeline to guide the Executive Director selection process.

The RFP# 2022 0400 5081 can be found on the State of Alaska’s Online Public Notice (OPN) system. The deadline for receipt of proposals is 4:00 pm on Tuesday, April 12th.

 

 

APFC Board of Trustees Special Meeting – March 23 & 24, 2022

In Uncategorized by Jennifer Thorsteinson

The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees will hold a Special Meeting on March 23 & 24, 2022 virtually for the purpose of meeting in Executive Session to receive legal advice regarding the Legislative Audit & Budget Independent Investigation.

The public is invited to attend the non-executive session portion of this meeting via Webinar (information listed above), or telephonically.

03.23-24.22 APFC Board of Trustees Special Meeting Agenda

APFC Board of Trustees Hears the Call to Action on Behalf of Ukraine

In Uncategorized by Adam Kane

APFC Summary of Russian Holdings

Together with our fellow Alaskans, the Board and Staff of APFC are bearing witness to the suffering, the fortitude, the resiliency, and the sheer bravery of the Ukrainian people and are hearing the call to action. The ongoing crisis and tragedy resulting from Russia’s undeniable and merciless assault on Ukraine warrant a global and Alaskan response.

The long-held independence afforded to the Alaska Permanent Fund Corporation enables fiduciary action based on the best interests of the Alaska Permanent Fund in accordance with constitutional and statutory mandates. There have been past calls for divestment of state funds; however, they were not passed by the Legislature nor acted upon by APFC.

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APFC’s Statement on Russia and Ukraine

In Uncategorized by Adam Kane

The Alaska Permanent Fund Corporation is keenly aware of the developing situation with regards to Russia and Ukraine, and is assessing impacts to the portfolio during these dynamic and unpredictable times.

APFC is closely monitoring the events that are still unfolding with regards to Russia and is analyzing the appropriate response.

 

APFC’s Board of Trustees Q2 Meeting Overview

In Uncategorized by Adam Kane

Juneau – The Board of Trustees held its quarterly meeting in Juneau and via webinar on February 16-17, 2022, to consider the Alaska Permanent Fund’s second-quarter investment performance, associated capital markets insights, updates on the Public Equities portfolio from internal and external managers, perspectives on risk and associated thresholds, and a discussion on the portfolio’s annual asset allocation.

The Alaska Permanent Fund ended the quarter on December 31 with $82.5 billion. The trailing quarter performance placed the Total Fund below-median relative to other large public funds and above-median relative to a large endowments/foundations peer group. For the quarter, the Total Fund outperformed the CPIU+5% return target but fell short of the Performance and Passive Index benchmarks. Over the 1-, 3-, 5-, and 10-year periods, the Fund outperformed and was ahead of all three targets.

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APFC Board of Trustees Quarterly Meeting

In Uncategorized by Jennifer Thorsteinson

The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees will hold their Quarterly Meeting February 16-17, 2022.

The public is invited to attend this meeting in person or via webinar and there will be an opportunity for public comment and participation at the beginning of the meeting on February 16. Please see the agenda for meeting details (location, time, and webinar link).

APFC February BOT Meeting Agenda

APFC Board of Trustees Quarterly Meeting Packet

Updated Callan Asset Allocation Presentation

FY22 Mid-Fiscal Year Review

In News, Uncategorized by Adam Kane

Under the leadership of Acting Executive Director Valerie Mertz and Chief Investment Officer Marcus Frampton, the Alaska Permanent Fund is managed and invested by the skilled and capable staff of APFC.

”As professionals, we adhere to our mission to protect and grow the Fund.” Says Valerie Mertz, “Our main objective remains unchanged.”

Together, APFC strives to exceed all benchmarks for performance while remaining open and accountable in safeguarding the assets of Alaska’s most valuable financial resource.

Learn more about the strategies, investments and management of the Alaska Permanent Fund in, Invested with Alaskans – FY22 Mid-Fiscal Year Review

 

Alaska In-State Private Equity Managers Provide Investment Insights

In Uncategorized by Paulyn

The Alaska In-State Private Equity Program has recently received increased attention. The Alaska Permanent Fund Corporation (APFC) and the independent managers of this program understand that Alaskans are interested in learning more about how the assets of the Alaska Permanent Fund are being invested in our State.

APFC, however, is also obligated to ensure that the disclosure of this information is consistent with requirements of Alaska law, including Alaska Statute 37.13.200, which requires APFC to maintain the confidentiality of records that contain proprietary information. Maintaining the confidentiality of a private company’s business information is not just important to the companies that the Permanent Fund invests in; it is also important to investment returns of these Permanent Fund investments. So, while we agree on the importance of disclosures related to the use of state funds, we also recognize the importance of maintaining the confidentiality of this proprietary information, the disclosure of which could undermine the success of these companies and the Permanent Fund’s investments.

To this end, APFC has been working with our two In-State Private Equity Program external managers, Barings, LLC and McKinley Capital Management, LLC, to voluntarily disclose additional information regarding the investments of this program, to the extent that such disclosure would not harm the investment returns or the underlying investments within this program.

Provided in the link below is a summary by both managers of the investments they have made under this In-State Private Equity Program.

20220204_APFC In-State Private Equity Managers Provide Investment Insights