Ketchikan – The Board of Trustees held its quarterly meeting in Ketchikan and via webinar on May 18-19, 2022, to consider the Alaska Permanent Fund’s third-quarter investment performance, associated capital markets insights, asset class updates, and a pacing plan for alternative markets. Updates to the Investment Policy and Governance Manual were also considered and adopted. In his hometown of Ketchikan, the Board and Corporation also took an opportunity to recognize Trustee Bill Moran’s sixteen years of dedicated service to the Fund, the Corporation and Alaska.
The investment focus of the Permanent Fund has always been targeted to a long-time horizon and measured against established benchmarks. Through the 3rd quarter, the Fund continued to outperform all targets in the 3-, 5-, 10-, and 20-year periods. The Total Fund outperformed the Performance and Passive Index benchmarks for the quarter while underperforming the Total Fund Return Objective of CPIU+5%. The Total Fund ended the quarter on March 31 with a value of $83.4 billion, a decrease of 1.4% from the previous quarter.
“While we are pleased to have continued delivering performance in excess of the Fund’s performance benchmark, the global markets have turned negative in 2022.” Said Marcus Frampton, APFC’s CIO, “Recognizing that this more difficult environment for stocks and bonds may continue, we are focused on maintaining a conservative posture for the Fund.”