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.
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
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/
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.
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
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.
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.
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.
The November History & Projections report and the monthly financial statements are now available.
With the publication of the November reports, we would like to highlight –
Prior to the November report, forecasts presented were based solely on Callan’s projections and did not incorporate actuals to date.
To provide Alaskan stakeholders with updated projections, moving forward through the remainder of the fiscal year 2024, APFC will include FYTD actuals and Callan’s projections for the rest of the fiscal year in the performance forecasts for accounting net income, Statutory Net Income, and fund values.
The Alaska Permanent Fund Corporation (APFC) Board of Trustees conducted their quarterly meeting on December 13th and 14th to review the performance updates for the first quarter of FY24. The asset class directors reported on staffing and strategy, and the board members were briefed on the future use of AI in the workplace. During the meeting, the Board discussed three action items. They approved a governance policy to simplify the Executive Director evaluation process and noted the need for additional consideration of both the strategic plan and Trustee Paper #10 which will be forwarded to the February 2024 meeting.
“We value our staff and employees and recognize the importance of safeguarding and investing in their success. To this point, we want to institute protections – at the APFC governance and Alaska legislative levels – to guarantee the privacy and security of personnel records across the Corporation. This is widely recognized as fundamental for ethical and secure employment management,” noted APFC Board Chair Ethan Schutt.
Read more about the Fund’s performance and the meeting in the full news release.
JUNEAU – The APFC Board of Trustees voted on December 13 during the quarterly meeting to simplify the Executive Director evaluation. The vote comes ahead of the end-of-year review of the Executive Director’s performance.
The simplification of the review process for the Executive Director includes updates to the Governance Charters to allow more candid feedback and wider participation from the whole board with a verbal review during an executive session. The process began after a comprehensive third-party review of the Board’s governance charters that were first presented to the Governance Committee meeting on May 9, 2023, and then at the quarterly Board meeting on May 17-18. The APFC Governance Committee forwarded the recommendation to the Board in November.
“This was a thorough process that began with a professional third-party recommendation. It spanned several months, giving ample opportunity for wide discussion among the Board and the public. Having a confidential performance evaluation is a normal, fair, and appropriate approach for the privacy and integrity of the Executive Director and his or her relationship to the Board,” said APFC Chair Ethan Schutt.