APFC Recognized Among “30 Most Influential Investors in Private Credit”

In Uncategorized by Paulyn

Juneau – The Alaska Permanent Fund Corporation (APFC) welcomes the recognition by PEI’s Private Debt Magazine as one of the “30 Most Influential Investors in Private Credit” for our internal management team’s pioneering contributions to this asset class.

On learning of this honor, Marcus Frampton, APFC’s Chief Investment Officer, remarked that “the purpose of our work is to generate attractive returns for the State not win awards, but it is great to see hard work and innovative thinking recognized with an industry ranking.”

The Alaska Permanent Fund’s Private Credit portfolio as of June 30, 2018 is valued at $1.2 billion and is comprised of investments that are asset backed and designed to generate high, regular income within the risk guidelines established by APFC’s Board of Trustees.  This portfolio exemplifies APFC’s work to bring more management in-house. Since coming on staff in 2016 Jared Brimberry, Senior Portfolio Manager, has been successful in developing this program from a fund-of-funds approach to a leading direct allocator and co-investor, while providing excellent returns, earning 8.79%, 6.47%, and 7.20% in the fiscal year, 3 years, and 5 years ended June 30, 2018.

In May of this year, APFC launched the $1 billion hybrid credit effort named Alaska Direct Alternative Credit (ADAC), which is a collaboration between our Private Credit and Fixed Income Plus internal management staff.  Investments in ADAC include a liquid portfolio of internally managed non-investment grade bonds and ETFs, and a private portfolio of co-investments alongside APFC’s private credit managers.

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APFC’s Board of Trustees Further Legislative Initiatives

In Uncategorized by Paulyn

The Board of Trustees held a special meeting to discuss legislative initiatives designed to further APFC’s ability to deliver compelling returns and a sustainable revenue stream for Alaska.

In providing guidance on rules-based withdrawals for the Fund and to help ensure the long term sustainability of using Fund earnings for the benefit of all generations of Alaskans, the Board passed Resolution 18-04 RESOLUTION OF THE BOARD OF TRUSTEES OF THE ALASKA PERMANENT FUND CORPORATION RELATING TO A SUSTAINABLE RULES BASED LEGAL FRAMEWORK FOR FUND TRANSFERS.  The Resolution is in support of SB26 Chapter 16 SLA 18, an important first step in codifying a set of rules to establish a sustainable annual draw from the earnings reserve account.

Chair Craig Richards noted “with the passage of Resolution 18-04, the Board of Trustees affirm the importance of formulaic management of transfers into and out of the Earnings Reserve Account. Through the resolution the Board of Trustees encourage and support methods of effective transfers that help ensure sustainability and long term growth of the Fund.

2018OCT17_APFC BOT Special Meeting

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APFC Honored By Double Nomination for 2018 Partnership of the Year

In Uncategorized by Paulyn

The Alaska Permanent Fund Corporation is honored to be nominated twice by Institutional Investor’s Allocators’ Choice Awards for 2018 Partnership of the Year.

Alaska Permanent Fund, Public Institution of Social Security of Kuwait, RPMI Railpen, & Wafra

Capital Constellation is an innovative joint venture with our global partners: The Public Institution for Social Security of Kuwait, RPMI Railpen, and Wafra, that is designed to catalyze the next generation of private equity and alternative investment managers.

 Alaska Permanent Fund & McKinley Capital Management

McKinley Capital, our Alaska based partner, joined with us in establishing the MEASA Fund, a private, open-ended investment fund focused on investing in securities in the Middle East, Africa and South Asia regions. This collaborative design aims to capture the growth of the region through publicly traded stocks.

This dual recognition by Institutional Investor for our private and public market portfolios reflects APFC’s commitment to teaming up with capable partners throughout the world in our mission to deliver attractive returns for the benefit of all Alaskans.  APFC is thrilled to be recognized in this dynamic category and looks forward to the final results.

To learn more visit: http://www.allocatorschoiceawards.com/

APFC Special Board of Trustees Meeting

In Uncategorized by Paulyn

The Alaska Permanent Fund Corporation (APFC) will hold a Special Meeting of the Board of Trustees on Wednesday, October 17, 2018 in Anchorage, AK. The public is invited to attend this meeting in-person or by teleconference; there will be an opportunity for public comment and participation.  The agenda includes incentive compensation and legislative initiatives and is available  under the Board of Trustees’ meetings page and thru the link below.

Special Meeting Agenda_2018OCT17

APFC Special BOT Meeting 2018OCT17_Updated

APFC Promotes Marcus Frampton to Chief Investment Officer

In Uncategorized by Paulyn

The Alaska Permanent Fund Corporation announced today that Marcus Frampton, CFA, CAIA has been promoted to serve as the Chief Investment Officer.

Chair Craig Richards provides: “After considering many highly qualified applicants for the CIO position, the Board is convinced that Marcus is best situated to continue the remarkable success the Permanent Fund investment portfolio has recently experienced.”

“I am pleased that Marcus has been promoted to CIO, and it demonstrates APFC’s commitment to providing a rich work experience and opportunities for career growth,” said Angela Rodell, Chief Executive Officer. “Marcus has proven himself to be a passionate and dedicated investor, contributing a tremendous amount of value to the Alaska Permanent Fund. I have confidence in his ability to take the Fund forward.”

In reflecting on his new role, Marcus notes that: “It is a tremendous honor to have the opportunity to serve as APFC’s next Chief Investment Officer.  I appreciate the confidence and trust that is being placed in me and look forward to working hard to deliver on the objectives of APFC’s stakeholders.”

20180928_APFC CIO Marcus Frampton

APFC’s Board of Trustees Revisits Investing in Alaska

In Uncategorized by Paulyn

The Board of Trustees reviewed the fiscal year 2018 (FY18) investment performance of the Alaska Permanent Fund (Fund) with presentations from Callan Associates and the Alaska Permanent Fund Corporation’s (APFC) asset class directors, approved a FY2020 budget, and accepted the Annual Audit as presented by KPMG. As noted in the 2018 Annual Report, released at the meeting, the Fund’s assets under management (AUM) reached an end of fiscal year high, totaling $64.9 billion as of June 30, 2018, comprised of $46.0 billion in the Principal of the Fund and $18.9 billion in the Earnings Reserve Account.

Callan Associates, APFC’s performance consultant, noted that APFC’s portfolio is well diversified across all major asset classes employed by institutional investors. In FY18 the Fund’s investments returned 10.74%, this strong performance puts the Total Fund in the top decile relative to other large public funds, and in the top third versus other large endowments/foundations. …

The Board of Trustees evaluated APFC’s approach to investing in Alaska and the Alaska Investment section of APFC’s Investment Policy & Procedures was amended to set forth aspirational goals for increased Alaska investment …

Furthering the interest in Alaska investment, a panel was conducted with representatives from investment firms with experience in geographically targeted emerging manager programs to inform Trustees about approaches and considerations for the development of an Alaska-based emerging manager program. The Board adopted Resolution 18-03 – RESOLUTION OF THE BOARD OF TRUSTEES OF THE ALASKA PERMANENT FUND CORPORATION SUPPORTING AN IN-STATE EMERGING MANAGER PROGRAM directing the Executive Director to create an In-State Emerging Manager Program. …

Full News Release:

20180927_APFC BOT Annual Meeting

APFC Annual Board of Trustees Meeting

In Uncategorized by Danielle Graham

The Alaska Permanent Fund Corporation (APFC) will hold its Annual Meeting of the Board of Trustees on September 26-27, 2018 in Anchorage, AK. The public is invited to attend this meeting in-person or by teleconference; there will be an opportunity for public comment and participation.  Agenda items include: approval of the annual audit, review of the strategic plan, the Alaska investment policy and the FY20 budget. There will also be asset class updates, a performance report from Callan Associates, an investing in global real estate panel and an investing in Alaska emerging managers panel.

SEP26-27_APFC Annual Meeting_Agenda

SEP26-27 – APFC Annual Meeting Board of Trustees Packet

 

AD HOC COMMITTEE – CIO SELECTION

In Uncategorized by Paulyn

Notice is hereby given that on September 5, 2018 at 3:00pm APFC will hold a meeting of the Chief Investment Officer (CIO) Selection Committee.  The CIO Selection Committee is an ad hoc committee appointed by the Board Chair under Article II, Section 5(b) of the APFC Bylaws.  Because the purpose of this meeti0ng will be to discuss the professional qualifications of the CIO candidate, under AS 44.63.130(d)(5), the Open Meetings Act does not apply to this meeting.