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Education
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History
Ten years after Alaska achieved statehood, oil was discovered on the North Slope, which led to Alaskans voting to create a Permanent Fund to invest oil proceeds for future generations. The first deposit was $734,000. After 40 years of wise management, APFC has grown the Permanent Fund to more than $84.9 billion. Want to know how we did it?
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Fund Structure
The Permanent Fund has two parts: the Principal and the Earnings Reserve Account (“ERA”). Both are invested together using the same asset allocation, but they are very different in how they can be used by law: the Principal is permanent savings, the ERA is available to spend.
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Revenue Generation
APFC is a team of financial and legal professionals. It operates as a separate state entity under the oversight of an independent, professional Board of Trustees, who serve as fiduciaries of the Fund. The Board sets investment policy, reviews the portfolio’s performance, and works with management to determine APFC’s strategic direction.
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Who Manages the Fund
It’s the APFC’s job to prudently manage the assets of the Alaska Permanent Fund. Our staff of professionals works with a team of international managers to invest the Permanent Fund’s billions across eight asset classes in both private and public markets. Under APFC’s stewardship, the Permanent Fund is recognized as one of the best-managed sovereign wealth funds in the world – well poised to serve Alaskans now and for many decades to come.
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