News - Alaska Permanent Fund Corporation

FUND NEWS

APFC FY25 Q3 Performance Snapshot: Steady Gains Despite Volatility May 5, 2025

The Alaska Permanent Fund earned a 4.55% return as of March 31, 2025, three quarters into the fiscal year.

“I am pleased that APFC’s active investment management approach has added value against the performance benchmark we have been assigned both in the short term (FYTD) and the longer time horizon that we manage portfolios against (5-year). In this period of increasingly turbulent markets, our active approach to investment management and our diversified asset allocation should provide stability to our stakeholders.”

– Marcus Frampton, APFC Chief Investment Officer

We evaluate the Permanent Fund’s performance by comparing it to benchmarks that measure the effectiveness of our active strategy, provide a meaningful comparison to our peers, and track progress toward the Board’s target of a 5% real return.

FYTD benchmarks include:

4.55% Passive Benchmark – reflects a blend of passive indices
4.26% Performance Benchmark – the aggregation of individual asset class benchmarks at their target weights
5.50% Real Return Objective (Inflation “CPI” +5%) – a real return target over a long-term horizon

Over the 5-year period, the Total Fund’s performance of 10.49% outperformed the three benchmarks including the passive index (9.71%), performance benchmark (9.93%), and the Real Return Objective (9.38%).

Monthly Performance Reports containing return information for the Total Fund and by asset class for the FYTD and 5-year periods are available at apfc.org/financial-and-performance-reports/.