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Alaska’s Renewable Revenue – High School Curriculum

In Uncategorized by Juliette Alldredge

Alaska Permanent Fund Corporation Launches Statewide Curriculum 

JUNEAU – Underscoring its commitment to educating Alaskans, the Alaska Permanent Fund Corporation (APFC) has partnered with the Alaska Resource Education (ARE) to create The Permanent Fund: Alaska’s Renewable Revenue. It’s a curriculum with engaging lessons and ready-to-go activity kits for Alaska’s educators to teach students about the Permanent Fund: Alaska’s Renewable Revenue.

“With an enduring dedication to our Alaskan stakeholders, we are pleased to announce the introduction of our high school curriculum,” noted APFC Board Chair Ethan Schutt. “This is a meaningful step forward, building upon the vision and direction of the Board to support our Alaska Youth in learning about the Alaska Permanent Fund.”

As part of the official launch in March, APFC is providing ready-to-go activity kits to the first 50 Alaska educators who sign up for the curriculum training.

Press Release - APFC Launches Statewide Curriculum Feb. 29, 2024
Learn More About the Curriculum

APFC Releases Trustees’ Paper Volume 10

In News by Juliette Alldredge

JUNEAU - Trustees’ Paper Volume 10: A Rules-Based Permanent-Endowment Model for Alaska is now available. The academic paper is authored and features analysis by Dr. Malan Rietveld, a renowned expert in sovereign wealth funds.  

APFC’s vision is to deliver outstanding returns for the benefit of current and future generations of Alaskans. A Trustee Paper provides insights, education, and analysis on topics relevant to important public policy considerations, particularly for entities entrusted with overseeing significant assets, investments, or funds. APFC’s Board of Trustees has previously issued nine Trustee Papers on the Alaska Permanent Fund – the first being in 1980.

Click here to download a copy of Trustees' Paper Volume 10. 

“Our responsibility is to educate Alaskans and respectfully provide policymakers with the necessary tools and options for their consideration given known concerns. Trustees’ Paper Volume 10 identifies issues, explores options, and provides a menu of timely solutions,” remarked Ethan Schutt, Chair of the Alaska Permanent Fund Corporation.

Click here to read the full news release.

APFC Board Adopts Strategic Plan and Trustee Paper #10

In Board of Trustees by Juliette Alldredge

Juneau – The Board of Trustees of the Alaska Permanent Fund Corporation (APFC) held its quarterly meeting in Juneau and via webinar on February 15 and 16, 2024. The Board action items included the adoption of the 2024 Strategic Plan and Trustee Paper #10. Additionally, the Board considered the Fund’s second-quarter investment performance, associated capital markets insights, updates on the Private Income and Private Credit portfolios from internal and external managers, and perspectives on risk thresholds. 

“I appreciate the positivity and rapport demonstrated by our Trustees as they navigated through difficult dialogues to make decisions for the betterment of the Fund and Corporation,” remarked Deven Mitchell, Executive Director & CEO. 

The Board of Trustees voted to adopt Trustee Paper #10 with an addendum provided by Callan to inform the Board’s discussion. The paper will be published in the coming weeks and made available to our Alaskan stakeholders.  It includes a history and overview of the Fund’s structure, insights into the durability issues under the current construct, and potential solutions to bring the Fund in line with modern endowment practices.  

“Our responsibility is to educate Alaskans and respectfully provide policymakers with the necessary tools and options for their consideration given known concerns. Trustee Paper #10 identifies issues, explores options, and provides a menu of timely solutions,” noted Ethan Schutt, Chair of the Alaska Permanent Fund Corporation.  

An amended version of the 2024 Strategic Plan was adopted by the Board of Trustees. The amendment limited the use of Fund-level Leverage to $4 billion.

“Thank you to Alaskans who weighed in on the strategic plan during the public comment period. We appreciate your engagement and share in your belief in safeguarding the Fund. At the end of the day, our goal is clear – to maximize returns and protect the Principal for generations of Alaskans. The plan we approved today is aligned with our mission,” said Ethan Schutt, Chair of the Alaska Permanent Fund Corporation. 

 

Read the full news release for summaries of the Risk, Asset Class Allocation Study, and Private Income portfolio presentations and other items.

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2024 Mid Fiscal Year Review

In Uncategorized by Juliette Alldredge

Juneau - the Alaska Permanent Fund Corporation (APFC) released the 2024 Mid Fiscal Year Review including updated performance and financial information. 

We have reached the halfway point of the 2024 fiscal year, and we have seen strong performance in financial markets that have driven a fiscal year-to-date return of 3.54%. As the markets strengthen, we are also pleased by the resiliency of the portfolio’s ability to handle fluctuations.

 
Learn More About the FY24 Mid Fiscal Year Review

February 15-16, 2024 Board of Trustees Quarterly Meeting

In Board of Trustees by Jennifer Thorsteinson

The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees will hold their Quarterly Meeting on February 15-16, 2024 at the location identified in the agenda linked below. Agenda items include: a risk overview, Fund performance overview, asset allocation discussion, asset class overview (Private Income presentations), consideration of the Strategic Plan, and more.

The public is invited to attend this meeting in person, via Webinar (information listed above), or telephonically. There will be an opportunity for public comment and participation at 10:30 a.m. when the meeting commences on February 15, 2024. If the public wishes to sign up for public comment, please indicate so when registering via WebEx. Please sign-up for public testimony by emailing jloesch@apfc.org by 4 pm on February 14.

February 15-16, 2024 APFC Board of Trustees Quarterly Meeting Agenda_revised 2.12.24
February 15-16, 2024 APFC Board of Trustees Quarterly Meeting Packet – Revised 02.16.2024

Private Equity Director Allen Waldrop Interviewed in Private Equity International

In Uncategorized by Juliette Alldredge

In a recent interview with Private Equity International, The Alaska Permanent Fund Corporation (APFC) Private Equity Director Allen Waldrop discusses the role private equity plays in the APFC portfolio and how he and his team are optimizing the Fund’s private equity allocation.

The article, “Turning an oil tanker: Alaska Perm tackles its private equity allocation,” delves into Director Waldrop’s portfolio strategy.

“Nowadays, you just don’t have to take as much risk to earn as high a return.”

Subscribers can access the full article here: https://www.privateequityinternational.com/allen-waldrop-on-tackling-alaska-perms-private-equity-allocation/

Proposed Strategic Plan: Public Comment Period Extended

In Board of Trustees, News by Juliette Alldredge

JUNEAU – Due to popular demand, the Alaska Permanent Fund Corporation (APFC) has extended public comment to February 14, 2024, on the proposed strategic plan.  The Board of Trustees encourages Alaskans to continue providing input. The Strategic Plan will be before the Board for adoption during the quarterly meeting on February 15-16, 2024.

Extended Public Comment Period:
January 24 at 8:00 a.m. - February 14 at 5:00 p.m., 2024

Click here to read the Feb. 1, 2024, news release about the extension period.

2024 Strategic Plan - Presentation
2024 Strategic Plan - Memo
Email boardpubliccomment@apfc.org to provide public comments and statements to the APFC Board of Trustees. Please provide your name and the town you currently reside in, along with your comments.  Please note that all comments, along with commenters' names and towns, will be made publicly available, posted daily throughout the comment period, and compiled to be included in the February Board of Trustees Quarterly Meeting Packet. 
Send Public Comment
Click here to view the comments submitted (updated 2-14-2024 at 5:00 p.m.). 

APFC Open House

In Uncategorized by Juliette Alldredge

Join APFC's Open House to meet, greet, and mingle with Trustees, Leaders, and Staff.

The Alaska Permanent Fund Corporation (APFC) is hosting an Open House at our Juneau headquarters - welcoming Legislators, Staff, and the Community of Juneau.

When: Thursday, February 15, 2024
Following the first day of the February Quarterly Board Meeting

Where: APFC Headquarters
Michael J. Burns Building, 3rd Floor, 801 W. 10th Street, Juneau, AK

What: An Opportunity to Talk with Trustees and Staff 
Learn more about the work we do to manage and invest the Permanent Fund. Take a tour of the office, review the mid-year reports, and hear more about our high school education curriculum - The Permanent Fund: Alaska's Renewable Revenue. Snacks and light appetizers will be available.

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Proposed Strategic Plan: Seeking Public Comment

In News by Juliette Alldredge

Please note - the public comment period was extended. Click here to view the most up-to-date information regarding public comment on the proposed 2024 strategic plan.

Update added February 1, 2024

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JUNEAU - The Alaska Permanent Fund Corporation (APFC) Board of Trustees is seeking public comment on the strategic plan to continue building an organization that sets the standard for endowment-style sovereign wealth funds. Click here to read the full news release.  

The public comment period begins on January 24 at 8 a.m. and ends on February 2, 2024, at 5 p.m. 

 "The strategic plan will guide APFC’s decisions for the next four years, and ensuring there is an opportunity for public engagement before the February meeting is an important part of the process,” remarks Deven Mitchell, Chief Executive Officer and Executive Director.

2024 Strategic Plan - Presentation
2024 Strategic Plan - Memo

Email boardpubliccomment@apfc.org to provide public comments and statements to the APFC Board of Trustees. Please provide your name and the town you currently reside in, along with your comments.  All comments, along with names and location, received will be posted daily throughout the comment period and included in the February Board of Trustees Quarterly Meeting Packet.

Send Public Comment

APFC Earns “Best Places to Work in Money Management”

In News by Juliette Alldredge

Juneau – The Alaska Permanent Fund Corporation (APFC) was recognized by Pensions & Investments 2023 as one of the “Best Places to Work in Money Management,” earning the award for the third year in a row.

As a mission-driven corporation committed to delivering outstanding returns for current and future generations of Alaskans, the Pensions & Investments award underscores APFC’s commitment to fostering a culture that empowers every employee to excel. APFC staff uphold a respectful, professional culture that continually earns and justifies the trust and confidence of each other.

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