Alaska Permanent Fund Ends FY20 In Positive Territory +2.01%

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The Alaska Permanent Fund’s unaudited financial statements and performance for the end of fiscal year 2020 (FY20) are now available on APFC’s website.

FY20 was an unprecedented year for our State, our Nation, and our World; APFC remained a diligent steward of the Fund throughout the turmoil. Additionally, the Legislature’s FY20 special appropriation of $4 billion and inflation proofing of just under $1 billion to the Principal of the Fund is unparalleled and assures real growth in the permanent portion of the Fund to benefit both current and future generations of Alaskans.

FY2020 Year End Permanent Fund Values and Performance

 

 

Trustees Wrap Up Two-Day Webinar Meeting

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APFC’s Board of Trustees held its quarterly meeting via Webinar on May 20-21, 2020.

In recognition of Trustee Carl Brady’s recent passing, Chair Richards, on behalf of the staff and the Board, expressed “our profound gratitude to Carl’s family for his years of service to the Fund and the State of Alaska.  We share in their loss of this monumental Alaskan.” With Trustee Brady’s passing, his longtime friend and fellow long-serving Trustee, Bill Moran, was elected to fill the position of Vice-Chair.

The Board’s two-day agenda provided the Trustees the opportunity to assess the performance of the Alaska Permanent Fund (Fund) through the third quarter of fiscal year 20 (FY20), review the asset allocation of the portfolio, adopt the revised investment policy, and interview and select two investment advisors: Kenneth J. Frier, Principal with SECOR Asset Management and John D. Skjervem, Chief Executive Officer, Allan Biller and Associates.

Full News Release: 2020MAY21_APFC BOT Quarterly Meeting FY20 Q3

APFC Welcomes Trustee Steve Rieger to the Board

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APFC welcomes back Steve Rieger to the Board of Trustees, appointed by Governor Dunleavy to the public member seat recently made vacant by the passing of Trustee Carl Brady.

Trustee Rieger has a depth of experience and knowledge related to the Alaska Permanent Fund and the Corporation, having served ten years in the Alaska State Legislature and having served as a member of the Board of Trustees from 2009-2013.

The Board of Trustees will be holding their next quarterly meeting on May 20-21, 2020 via webinar.  Details on our website:  https://apfc.org/the-board-of-trustees/board-of-trustees-meetings/.

APFC Quarterly Board of Trustees Meeting

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The Alaska Permanent Fund Corporation (APFC) will hold its Quarterly Meeting of the Board of Trustees on May 20-21, 2020 in Juneau, AK. The public is invited to attend this meeting in-person or by webinar; please see the agenda (linked below) for information. Please indicate your interest in providing public testimony when registering with WebEx. Please contact Maggie Meiners ([email protected]) at least one business day prior to the meeting if you experience issues when registering.

Agenda items include: asset class updates from real estate and alternatives, a performance review of the portfolio from Callan LLC, as well as presentations on APFC’s asset allocation strategy, private equity pacing, and APFC’s investment policy.

Agenda

20200520-21 Quarterly Meeting BOT Packet

APFC Audit Committee Meeting

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The Alaska Permanent Fund Corporation (APFC) will hold its Audit Committee Meeting on May 19, 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. Please contact Maggie Meiners ([email protected]) at least one business day prior to the meeting if you experience issues when registering.

 

Agenda

20200520-21 Audit Packet

APFC Extends Condolences to the Mallott Family

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APFC extends our condolences to the Mallott family on the passing of Byron Mallott. Trustee Mallott’s extensive career in service to Alaska includes serving as the Executive Director of the Alaska Permanent Fund Corporation, as well as eight years as a public member of the Board of Trustees, first appointed by Governor Jay Hammond in 1982. As APFC commemorates 40 years of investing for Alaskans, we are grateful for Trustee Mallott’s leadership in the early years of the Corporation and the Fund.

The Milken Institute – Power of Ideas Series

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The Milken Institute released new essays in their #PowerofIdeas series on the unique challenges, opportunities for growth, and collaborative responses associated with the COVID-19 pandemic.  See Essays: https://milkeninstitute.org/power-of-ideas

APFC’s CEO, Angela Rodell, is pleased to share her contribution to this diverse collection of thought leadership. See Angela’s Essay: https://milkeninstitute.org/power-of-ideas/mindset-future

Trustee Carl Brady

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APFC shares with our fellow Alaskans in the loss of Trustee Carl Brady who passed away on April 6, 2020.

“Carl served Alaska and the Fund since 1991. His tremendous knowledge, steadfastness, deep love for Alaska, and especially for APFC will be greatly missed,” reflected CEO Angela Rodell.

In the decades that Trustee Brady had served on APFC’s Board, there had been many significant achievements in promoting and adhering to the principles of transparency, accountability, and best in class practices in the management of the Alaska Permanent Fund. In 2005 under his Chairmanship, statutory authority was established, allowing the use of the Prudent Investor Rule for investing the Fund, providing for greater diversification of the portfolio into alternative asset classes such as private equity and infrastructure. Throughout his service on the Board, emphasis had been placed on ensuring the Fund benefits all generations of Alaskans.

We express our deepest condolences to his family.

 

APFC 2012 Annual Report – Board of Trustees

APFC Supporting Efforts to Curtail Virus

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Alaskans and Business Partners –

We find ourselves in extraordinary times coming together to ensure the health and safety of our families and communities.

To support efforts underway to slow the spread of the virus, APFC employees are working remotely and our office is closed to the public.

Be assured that our staff is working at full capacity and is fully engaged in managing the portfolio through this extreme market cycle.

Stay well and support one another.

The Alaska Permanent Fund Corporation